Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS grew its position in Citizens Financial Group, Inc. (NYSE:CFGGet Rating) by 45.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,259 shares of the bank’s stock after acquiring an additional 30,896 shares during the period. DnB Asset Management AS’s holdings in Citizens Financial Group were worth $3,507,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC raised its position in shares of Citizens Financial Group by 17.7% during the 4th quarter. HighTower Advisors LLC now owns 25,736 shares of the bank’s stock worth $1,216,000 after purchasing an additional 3,871 shares during the last quarter. Fiduciary Trust Co. raised its position in shares of Citizens Financial Group by 139.0% during the 4th quarter. Fiduciary Trust Co. now owns 36,053 shares of the bank’s stock worth $1,703,000 after purchasing an additional 20,965 shares during the last quarter. Gotham Asset Management LLC acquired a new position in shares of Citizens Financial Group during the 4th quarter worth about $218,000. GSA Capital Partners LLP acquired a new position in shares of Citizens Financial Group during the 4th quarter worth about $270,000. Finally, Blair William & Co. IL raised its position in shares of Citizens Financial Group by 1.2% during the 4th quarter. Blair William & Co. IL now owns 38,033 shares of the bank’s stock worth $1,797,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $37.28 on Tuesday. The firm has a 50 day simple moving average of $37.49 and a 200-day simple moving average of $39.91. Citizens Financial Group, Inc. has a 1-year low of $34.35 and a 1-year high of $57.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.88. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 9.23 and a beta of 1.40.

Citizens Financial Group (NYSE:CFGGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The bank reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.12. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Citizens Financial Group had a net margin of 25.04% and a return on equity of 10.26%. During the same quarter last year, the company posted $1.46 EPS. On average, analysts expect that Citizens Financial Group, Inc. will post 4.37 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Tuesday, August 2nd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, August 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.51%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.39. Citizens Financial Group’s dividend payout ratio (DPR) is presently 42.53%.

Citizens Financial Group declared that its board has authorized a share buyback program on Monday, June 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to buy up to 5.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CFG has been the subject of several research analyst reports. Royal Bank of Canada reduced their price target on shares of Citizens Financial Group from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. Piper Sandler cut their price objective on shares of Citizens Financial Group to $44.00 in a report on Friday, July 22nd. Credit Suisse Group cut their price objective on shares of Citizens Financial Group to $42.00 in a report on Friday, July 22nd. Citigroup cut their price objective on shares of Citizens Financial Group from $45.00 to $39.00 in a report on Tuesday, July 12th. Finally, Stephens cut their price objective on shares of Citizens Financial Group from $59.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.44.

Citizens Financial Group Profile

(Get Rating)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

Further Reading

Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.