Wedmont Private Capital Boosts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Wedmont Private Capital grew its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,437 shares of the bank’s stock after buying an additional 1,829 shares during the period. Wedmont Private Capital’s holdings in Citizens Financial Group were worth $539,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 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 worth $1,060,689,000 after purchasing an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP lifted 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 purchasing an additional 5,579,313 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after purchasing an additional 805,758 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock worth $159,550,000 after purchasing an additional 587,115 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Citizens Financial Group by 61.4% in the 2nd 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. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $47.06 on Thursday. Citizens Financial Group, Inc. has a twelve month low of $30.24 and a twelve month high of $49.25. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.76 and a beta of 1.10. The stock has a fifty day simple moving average of $45.62 and a two-hundred day simple moving average of $42.48. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. On average, analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on CFG shares. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price target on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Compass Point boosted their price target on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson lifted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Piper Sandler boosted their target price on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $47.78.

Citizens Financial Group 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.