ING Groep NV Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

ING Groep NV lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 11.5% in the 4th quarter, Holdings Channel reports. The firm owned 20,507 shares of the bank’s stock after selling 2,677 shares during the period. ING Groep NV’s holdings in Citizens Financial Group were worth $897,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CFG. Ballentine Partners LLC grew its holdings in shares of Citizens Financial Group by 16.3% in the third quarter. Ballentine Partners LLC now owns 7,530 shares of the bank’s stock worth $309,000 after acquiring an additional 1,057 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Citizens Financial Group by 39.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,279 shares of the bank’s stock worth $1,235,000 after acquiring an additional 8,579 shares during the period. Forsta AP Fonden grew its holdings in shares of Citizens Financial Group by 16.6% in the third quarter. Forsta AP Fonden now owns 118,300 shares of the bank’s stock worth $4,859,000 after acquiring an additional 16,800 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Citizens Financial Group by 35.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 104,219 shares of the bank’s stock worth $4,280,000 after acquiring an additional 27,152 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Citizens Financial Group by 0.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 275,006 shares of the bank’s stock worth $11,171,000 after acquiring an additional 2,306 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $44.32 on Tuesday. The stock’s 50-day simple moving average is $45.76 and its 200-day simple moving average is $44.04. Citizens Financial Group, Inc. has a 52 week low of $30.30 and a 52 week high of $49.25. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.81 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56.

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

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.79%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

Analyst Ratings Changes

Several brokerages recently commented on CFG. Barclays lifted their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. 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. Compass Point boosted their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Stephens reissued an “overweight” rating and set a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average price target of $49.00.

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.