DNB Asset Management AS Acquires 11,321 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

DNB Asset Management AS grew its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,984 shares of the bank’s stock after purchasing an additional 11,321 shares during the period. DNB Asset Management AS’s holdings in Citizens Financial Group were worth $2,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CFG. Larson Financial Group LLC bought a new stake in Citizens Financial Group in the fourth quarter valued at $33,000. Quarry LP grew its holdings in shares of Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Citizens Financial Group during the 1st quarter worth about $68,000. Harvest Fund Management Co. Ltd lifted its holdings in Citizens Financial Group by 904.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,139 shares of the bank’s stock valued at $71,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Citizens Financial Group by 686.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the bank’s stock valued at $73,000 after buying an additional 1,758 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CFG has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Piper Sandler raised their price target on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Argus raised their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley upped their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.20.

Insiders Place Their Bets

In related news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Trading Up 1.4 %

NYSE:CFG traded up $0.55 during mid-day trading on Tuesday, hitting $38.85. The company had a trading volume of 5,239,301 shares, compared to its average volume of 5,552,668. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The firm has a market cap of $17.68 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.46 and a beta of 1.10. The business’s fifty day moving average is $37.12 and its two-hundred day moving average is $35.00.

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

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.32%. Citizens Financial Group’s payout ratio is 60.87%.

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.