Gulf International Bank UK Ltd Reduces Position in Citizens Financial Group, Inc. (NYSE:CFG)

Gulf International Bank UK Ltd lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 37,755 shares of the bank’s stock after selling 341 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Citizens Financial Group were worth $1,652,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CFG. Wellington Management Group LLP boosted its position in shares of Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after buying an additional 5,579,313 shares during the period. State Street Corp boosted its position in shares of Citizens Financial Group by 6.7% during the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after buying an additional 1,615,144 shares during the period. Bank of Montreal Can boosted its position 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 valued at $107,897,000 after buying an additional 894,322 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Citizens Financial Group by 31.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock valued at $155,051,000 after buying an additional 839,041 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Citizens Financial Group by 124.8% during the third quarter. BNP Paribas Financial Markets now owns 1,511,148 shares of the bank’s stock valued at $62,063,000 after buying an additional 838,917 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Barclays boosted their price target on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group boosted their price target on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler boosted their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Citigroup boosted their price target on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $45.75 on Friday. The firm has a 50 day moving average of $45.90 and a 200 day moving average of $44.16. The company has a market capitalization of $20.00 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.81 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 52 week low of $30.54 and a 52 week high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s payout ratio is presently 55.45%.

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.