Federated Hermes Inc. Sells 133,122 Shares of Citizens Financial Group, Inc. $CFG

Federated Hermes Inc. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,529 shares of the bank’s stock after selling 133,122 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of Citizens Financial Group worth $23,741,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CFG. Janney Montgomery Scott LLC lifted its holdings in shares of Citizens Financial Group by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock valued at $1,582,000 after purchasing an additional 512 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Citizens Financial Group by 5.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock valued at $38,315,000 after buying an additional 42,971 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Citizens Financial Group in the 1st quarter valued at $3,177,000. Nordea Investment Management AB lifted its stake in Citizens Financial Group by 20.7% during the 2nd quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock valued at $287,932,000 after acquiring an additional 1,098,684 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Citizens Financial Group by 78.7% during the 2nd quarter. Pinnacle Associates Ltd. now owns 19,735 shares of the bank’s stock worth $883,000 after acquiring an additional 8,693 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on CFG. Bank of America raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $65.00 in a research report on Thursday, October 9th. Evercore ISI lifted their target price on shares of Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial reduced their target price on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Citizens Financial Group in a report on Monday, December 1st. Finally, UBS Group boosted their price objective on Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $56.55.

Citizens Financial Group Trading Up 0.3%

Shares of CFG opened at $55.96 on Wednesday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $56.73. The business has a 50-day moving average of $52.18 and a 200 day moving average of $49.10. The firm has a market cap of $24.03 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. As a group, research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were paid a $0.46 dividend. The ex-dividend date was Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio (DPR) is presently 51.54%.

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.