Harvest Fund Management Co. Ltd Has $631,000 Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Harvest Fund Management Co. Ltd lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 91.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,405 shares of the bank’s stock after purchasing an additional 6,885 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Citizens Financial Group were worth $631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC boosted its position in shares of Citizens Financial Group by 801.9% during the fourth quarter. Intech Investment Management LLC now owns 102,445 shares of the bank’s stock worth $4,483,000 after buying an additional 91,086 shares during the period. Mystic Asset Management Inc. acquired a new position in shares of Citizens Financial Group during the fourth quarter worth about $280,000. Corient Private Wealth LLC boosted its position in shares of Citizens Financial Group by 0.9% during the fourth quarter. Corient Private Wealth LLC now owns 85,535 shares of the bank’s stock worth $3,743,000 after buying an additional 802 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Citizens Financial Group by 16.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,957 shares of the bank’s stock valued at $742,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in Citizens Financial Group by 6.2% during the fourth quarter. Natixis Advisors LLC now owns 691,795 shares of the bank’s stock valued at $30,273,000 after purchasing an additional 40,160 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on CFG shares. Raymond James reissued a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Morgan Stanley reduced their price target on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group increased their price target on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial increased their price target on Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Finally, Stephens reissued an “overweight” rating and set a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus target price of $49.22.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $40.97 on Friday. The stock has a market cap of $17.91 billion, a P/E ratio of 13.52, a PEG ratio of 0.81 and a beta of 1.06. The stock has a 50 day simple moving average of $45.16 and a 200 day simple moving average of $44.11. 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 $32.06 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 4.10%. Citizens Financial Group’s dividend payout ratio is presently 55.45%.

About Citizens Financial Group

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.