Loomis Sayles & Co. L P Takes Position in Citizens Financial Group, Inc. (NYSE:CFG)

Loomis Sayles & Co. L P bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,012 shares of the bank’s stock, valued at approximately $88,000.

A number of other large investors have also added to or reduced their stakes in CFG. State Street Corp lifted its holdings in shares of Citizens Financial Group by 6.7% during the 3rd 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. Wellington Management Group LLP lifted its holdings in Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after acquiring an additional 5,579,313 shares during the period. Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after acquiring an additional 805,758 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Citizens Financial Group by 31.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock valued at $155,051,000 after purchasing an additional 839,041 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Citizens Financial Group by 11.9% during the 3rd 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. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CFG shares. Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Truist Financial dropped their price target on shares of Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Compass Point upped their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, January 21st. Finally, Raymond James reissued a “strong-buy” rating and set a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Trading Down 2.4 %

CFG stock opened at $40.26 on Monday. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a 1-year low of $32.06 and a 1-year high of $49.25. The business has a 50 day simple moving average of $44.66 and a two-hundred day simple moving average of $44.16.

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

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. Citizens Financial Group’s dividend payout ratio (DPR) is 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.