Migdal Insurance & Financial Holdings Ltd. Buys New Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 641 shares of the bank’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Centennial Wealth Advisory LLC boosted its stake in Citizens Financial Group by 6.6% during the fourth quarter. Centennial Wealth Advisory LLC now owns 12,599 shares of the bank’s stock worth $551,000 after buying an additional 783 shares during the period. Choreo LLC raised its holdings in shares of Citizens Financial Group by 3.4% in the fourth quarter. Choreo LLC now owns 13,704 shares of the bank’s stock valued at $597,000 after acquiring an additional 454 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Citizens Financial Group by 35.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,112 shares of the bank’s stock valued at $1,793,000 after acquiring an additional 10,833 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $237,000. Finally, Mather Group LLC. raised its holdings in Citizens Financial Group by 15.2% in the fourth quarter. Mather Group LLC. now owns 8,632 shares of the bank’s stock worth $378,000 after purchasing an additional 1,138 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Royal Bank of Canada upped their target price on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Raymond James reaffirmed a “strong-buy” rating and set a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Piper Sandler lifted their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, DA Davidson lifted their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Citizens Financial Group Stock Down 0.8 %

Shares of CFG opened at $47.96 on Friday. The firm has a market cap of $21.13 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10. Citizens Financial Group, Inc. has a 12-month low of $30.24 and a 12-month high of $49.25. The company’s 50-day moving average price is $45.77 and its 200 day moving average price is $43.56. 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 (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion during 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%. Citizens Financial Group’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Friday, January 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, January 31st. Citizens Financial Group’s dividend payout ratio 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.