Citizens Financial Group, Inc. (NYSE:CFG) Stock Position Reduced by National Bank of Canada FI

National Bank of Canada FI decreased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 53.7% in the third quarter, Holdings Channel reports. The institutional investor owned 372,428 shares of the bank’s stock after selling 431,491 shares during the quarter. National Bank of Canada FI’s holdings in Citizens Financial Group were worth $15,296,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Versor Investments LP acquired a new stake in Citizens Financial Group during the third quarter valued at $1,910,000. Quantbot Technologies LP bought a new position in Citizens Financial Group during the second quarter valued at approximately $5,009,000. Pathstone Holdings LLC lifted its stake in Citizens Financial Group by 7.7% in the third quarter. Pathstone Holdings LLC now owns 154,546 shares of the bank’s stock valued at $6,347,000 after acquiring an additional 11,044 shares during the last quarter. Andra AP fonden grew its position in Citizens Financial Group by 49.1% in the second quarter. Andra AP fonden now owns 308,300 shares of the bank’s stock worth $11,108,000 after acquiring an additional 101,500 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its stake in shares of Citizens Financial Group by 138.9% during the 3rd quarter. Pallas Capital Advisors LLC now owns 25,620 shares of the bank’s stock worth $1,069,000 after purchasing an additional 14,896 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CFG shares. Piper Sandler upped their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup boosted their target price on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Evercore ISI lowered their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Finally, DA Davidson upped their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.94.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $46.42 on Wednesday. The firm has a market capitalization of $20.46 billion, a PE ratio of 18.27, a PEG ratio of 1.79 and a beta of 1.08. 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, Inc. has a 1-year low of $29.16 and a 1-year high of $49.25. The business’s 50 day moving average is $44.26 and its 200-day moving average is $40.70.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.62%. Citizens Financial Group’s payout ratio is currently 66.14%.

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.