Bank of Nova Scotia Reduces Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Bank of Nova Scotia lowered its position in Citizens Financial Group, Inc. (NYSE:CFGFree Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,856 shares of the bank’s stock after selling 911 shares during the period. Bank of Nova Scotia’s holdings in Citizens Financial Group were worth $1,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its position in Citizens Financial Group by 96.3% in the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after buying an additional 1,212,642 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Citizens Financial Group in the 4th quarter worth approximately $1,959,000. Alps Advisors Inc. boosted its position in Citizens Financial Group by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock worth $327,000 after purchasing an additional 2,992 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Citizens Financial Group by 49.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock worth $42,970,000 after purchasing an additional 431,624 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in Citizens Financial Group in the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the topic of several recent research reports. Jefferies Financial Group upped their price objective 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 upped their price objective for the stock from $35.00 to $41.00 in a research report on Friday, April 26th. Evercore ISI upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 5th. Finally, Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.73.

Get Our Latest Stock Analysis on Citizens Financial Group

Citizens Financial Group Stock Down 0.1 %

NYSE CFG opened at $34.06 on Friday. The business has a fifty day moving average price of $34.95 and a 200 day moving average price of $32.99. Citizens Financial Group, Inc. has a one year low of $22.77 and a one year high of $37.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $15.50 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.33 and a beta of 1.10.

Citizens Financial Group (NYSE:CFGGet Free Report) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company posted $1.00 earnings per share. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.15 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insiders Place Their Bets

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

About Citizens Financial Group

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFGFree Report).

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.