BTC Capital Management Inc. Raises Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

BTC Capital Management Inc. increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,999 shares of the bank’s stock after buying an additional 7,119 shares during the quarter. BTC Capital Management Inc.’s holdings in Citizens Financial Group were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Citizens Financial Group by 207.2% in the 3rd 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 last quarter. State Street Corp increased its holdings in Citizens Financial Group by 6.7% in the 3rd 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 in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Citizens Financial Group by 85.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after purchasing an additional 942,662 shares during the last quarter. Bank of Montreal Can raised its holdings 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 acquiring an additional 894,322 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Citizens Financial Group by 124.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,511,148 shares of the bank’s stock valued at $62,063,000 after purchasing an additional 838,917 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DA Davidson boosted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada raised their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Truist Financial upped their target price on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Finally, Compass Point raised their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Stock Up 1.6 %

CFG opened at $48.37 on Friday. The business has a 50 day moving average of $45.85 and a 200-day moving average of $43.31. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.83 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 announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Citizens Financial Group’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.94 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

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.