Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 35.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,112 shares of the bank’s stock after purchasing an additional 10,833 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Citizens Financial Group were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position 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 acquiring an additional 1,615,144 shares during the period. Wellington Management Group LLP increased its stake in shares of Citizens Financial Group by 207.2% during 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 during the last quarter. Nordea Investment Management AB raised its holdings in shares of 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Citizens Financial Group by 11.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock valued at $129,150,000 after purchasing an additional 334,386 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in 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 valued at $107,897,000 after purchasing an additional 894,322 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Down 1.2 %

CFG stock opened at $47.37 on Tuesday. The company’s 50 day moving average is $45.77 and its 200 day moving average is $43.63. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 1-year low of $30.24 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results 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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.93 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. 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. Truist Financial boosted their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Stephens reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Raymond James reissued a “strong-buy” rating and set a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Nine 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

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.