O Shaughnessy Asset Management LLC Raises Position in Citizens Financial Group, Inc. (NYSE:CFG)

O Shaughnessy Asset Management LLC lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 433.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,648 shares of the bank’s stock after purchasing an additional 171,127 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Citizens Financial Group were worth $7,644,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Citizens Financial Group during the 4th quarter valued at about $117,372,000. Hsbc Holdings PLC boosted its position in shares of Citizens Financial Group by 96.3% in the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after purchasing an additional 1,212,642 shares during the period. Capital International Investors increased its holdings in shares of Citizens Financial Group by 3.5% in the fourth quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock worth $1,165,106,000 after purchasing an additional 1,199,158 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Citizens Financial Group by 130.0% in the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock worth $64,796,000 after buying an additional 1,105,011 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Citizens Financial Group by 1,398.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,069,855 shares of the bank’s stock valued at $35,455,000 after buying an additional 998,466 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Down 0.1 %

Shares of NYSE CFG traded down $0.06 during mid-day trading on Wednesday, reaching $42.24. The company had a trading volume of 5,654,199 shares, compared to its average volume of 5,468,370. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.08. The business’s 50-day moving average is $36.11 and its 200-day moving average is $34.40. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Equities analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CFG. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Morgan Stanley increased their price objective on shares of Citizens Financial Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price target on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 5th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.13.

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.