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

DnB Asset Management AS lessened its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 75.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,643 shares of the bank’s stock after selling 246,688 shares during the quarter. DnB Asset Management AS’s holdings in Citizens Financial Group were worth $3,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ameliora Wealth Management Ltd. purchased a new stake in Citizens Financial Group in the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Citizens Financial Group during the 4th quarter valued at $28,000. Sierra Ocean LLC purchased a new position in shares of Citizens Financial Group in the 4th quarter worth $47,000. Legacy Investment Solutions LLC bought a new stake in shares of Citizens Financial Group in the third quarter worth $48,000. Finally, Duncker Streett & Co. Inc. purchased a new stake in Citizens Financial Group during the fourth quarter valued at $51,000. 94.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CFG has been the subject of a number of recent research reports. Piper Sandler boosted their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Stephens restated an “overweight” rating and set a $53.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Citigroup decreased their price target on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Compass Point boosted their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays raised their target price on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Stock Performance

CFG opened at $41.01 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $17.92 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.81 and a beta of 1.06. The company has a fifty day moving average of $44.53 and a 200 day moving average of $44.17. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.10%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

Citizens Financial Group Company 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.