M&T Bank Corp cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,550 shares of the bank’s stock after selling 2,758 shares during the period. M&T Bank Corp’s holdings in Citizens Financial Group were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Costello Asset Management INC purchased a new stake in Citizens Financial Group during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new position in Citizens Financial Group during the third quarter worth $27,000. Catalyst Capital Advisors LLC bought a new position in Citizens Financial Group during the third quarter valued at $28,000. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the second quarter valued at $25,000. Finally, Private Ocean LLC boosted its stake in shares of Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after purchasing an additional 838 shares during the period. 94.90% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CFG shares. Compass Point increased their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price target on Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price objective 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. Finally, DA Davidson lifted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.94.
Citizens Financial Group Price Performance
Shares of CFG opened at $45.70 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50 day moving average price of $44.71 and a 200-day moving average price of $41.02. Citizens Financial Group, Inc. has a fifty-two week low of $30.24 and a fifty-two week high of $49.25. The stock has a market capitalization of $20.14 billion, a PE ratio of 17.99, a PEG ratio of 1.76 and a beta of 1.08.
Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its 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 return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. Equities analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.
Citizens Financial Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders 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 annualized dividend and a yield of 3.68%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 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.
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