BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.12 Million Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 13.5% in the 3rd quarter, Holdings Channel reports. The firm owned 75,926 shares of the bank’s stock after selling 11,877 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Citizens Financial Group were worth $3,118,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CFG. Costello Asset Management INC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of Citizens Financial Group in the third quarter worth about $27,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $28,000. Innealta Capital LLC acquired a new stake in shares of Citizens Financial Group in the 2nd quarter valued at approximately $25,000. Finally, Private Ocean LLC grew its holdings 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 valued at $36,000 after purchasing an additional 838 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG opened at $46.78 on Wednesday. The firm’s fifty day simple moving average is $43.78 and its two-hundred day simple moving average is $40.41. Citizens Financial Group, Inc. has a 12 month low of $27.97 and a 12 month high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.62 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.79 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.59%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Royal Bank of Canada upped their target price on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. DA Davidson lifted their price target on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays upped their price objective on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.80.

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.