Donoghue Forlines LLC Takes $1.49 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

Donoghue Forlines LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the fourth quarter, Holdings Channel reports. The fund purchased 33,925 shares of the bank’s stock, valued at approximately $1,485,000.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after acquiring an additional 5,579,313 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Citizens Financial Group by 61.4% during the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after purchasing an additional 1,682,886 shares in the last quarter. State Street Corp lifted its holdings in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after purchasing an additional 1,615,144 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Citizens Financial Group by 85.6% during the 3rd 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. Finally, Bank of Montreal Can grew its holdings in shares of Citizens Financial Group by 51.1% during the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after buying an additional 894,322 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $47.40 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.10. Citizens Financial Group, Inc. has a 12 month low of $30.24 and a 12 month high of $49.25. The business’s 50 day simple moving average is $45.71 and its 200-day simple moving average is $42.91.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1,962,330 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 3.95 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s payout ratio is currently 55.45%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Raymond James restated a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday. Truist Financial lifted their price objective on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday. Stephens restated an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a research note on Tuesday. Finally, Royal Bank of Canada increased their price target on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

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.