Cidel Asset Management Inc. Decreases Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Cidel Asset Management Inc. reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 8.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,919 shares of the bank’s stock after selling 461 shares during the quarter. Cidel Asset Management Inc.’s holdings in Citizens Financial Group were worth $215,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ameliora Wealth Management Ltd. purchased a new position in Citizens Financial Group in the fourth quarter valued at about $28,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Citizens Financial Group by 2.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,019 shares of the bank’s stock worth $2,014,000 after purchasing an additional 998 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Citizens Financial Group by 0.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,015,624 shares of the bank’s stock valued at $44,444,000 after purchasing an additional 3,833 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Citizens Financial Group during the fourth quarter valued at $28,000. Finally, Centennial Wealth Advisory LLC increased its position in Citizens Financial Group by 6.6% in 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 last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James reiterated a “strong-buy” rating and set a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Piper Sandler increased their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Citigroup boosted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Trading Down 0.8 %

Shares of CFG opened at $47.96 on Monday. Citizens Financial Group, Inc. has a 1-year low of $30.24 and a 1-year high of $49.25. The company has a market capitalization of $21.13 billion, a P/E ratio of 15.83, a P/E/G ratio of 0.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $43.62.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data 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. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the company posted $0.85 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.93 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s payout ratio is currently 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.