Harvest Portfolios Group Inc. Decreases Position in Citizens Financial Group, Inc. $CFG

Harvest Portfolios Group Inc. trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,570 shares of the bank’s stock after selling 19,291 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Citizens Financial Group were worth $6,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ninety One UK Ltd acquired a new stake in Citizens Financial Group in the 3rd quarter valued at about $308,946,000. Norges Bank purchased a new stake in Citizens Financial Group in the 2nd quarter valued at $253,423,000. HoldCo Asset Management LP acquired a new stake in shares of Citizens Financial Group in the 2nd quarter worth $93,361,000. Marshall Wace LLP purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth $67,492,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $60,434,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CFG. Evercore boosted their target price on shares of Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $73.00 price objective on shares of Citizens Financial Group in a report on Tuesday, January 6th. Bank of America raised their target price on Citizens Financial Group from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. DA Davidson lifted their target price on Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, TD Cowen increased their price target on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.77.

Citizens Financial Group Stock Performance

Shares of CFG opened at $60.07 on Friday. The stock has a 50-day simple moving average of $62.54 and a 200-day simple moving average of $55.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79. The stock has a market capitalization of $25.53 billion, a PE ratio of 15.52, a PEG ratio of 0.52 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $0.85 earnings per share. Citizens Financial Group’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.1%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 47.55%.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.