Greenleaf Trust Raises Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Greenleaf Trust increased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,974 shares of the bank’s stock after purchasing an additional 386 shares during the quarter. Greenleaf Trust’s holdings in Citizens Financial Group were worth $699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. Wellington Management Group LLP boosted its holdings in Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. State Street Corp boosted its holdings in Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Citizens Financial Group by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after purchasing an additional 942,662 shares during the last quarter. Bank of Montreal Can boosted its holdings in Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after purchasing an additional 894,322 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Citizens Financial Group by 124.8% in the third quarter. BNP Paribas Financial Markets now owns 1,511,148 shares of the bank’s stock worth $62,063,000 after acquiring an additional 838,917 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the topic of several recent research reports. Truist Financial increased their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays increased their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $47.02 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $20.72 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.83 and a beta of 1.10. The firm’s fifty day moving average is $45.80 and its two-hundred day moving average is $43.46. Citizens Financial Group, Inc. has a 52-week low of $30.24 and a 52-week high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company posted $0.85 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.94 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.57%. Citizens Financial Group’s payout ratio is currently 55.45%.

About Citizens Financial Group

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.