Harvest Fund Management Co. Ltd Purchases 1,926 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Harvest Fund Management Co. Ltd increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 904.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,139 shares of the bank’s stock after buying an additional 1,926 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Citizens Financial Group were worth $71,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $122,000. Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $33,000. OLD National Bancorp IN acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $286,000. CWM LLC lifted its holdings in shares of Citizens Financial Group by 33.4% during the fourth quarter. CWM LLC now owns 23,043 shares of the bank’s stock worth $764,000 after buying an additional 5,771 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Citizens Financial Group by 1.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,727 shares of the bank’s stock worth $2,609,000 after buying an additional 1,211 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CFG shares. Citigroup raised their price target on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Wedbush decreased their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group raised their price target on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Piper Sandler upgraded Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $41.00 in a research report on Friday. Finally, Royal Bank of Canada raised their price target on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.13.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is owned by company insiders.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $34.99 on Friday. The firm has a market cap of $16.04 billion, a P/E ratio of 12.68 and a beta of 1.38. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $36.38. The business’s 50 day moving average price is $33.61 and its 200-day moving average price is $30.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.