Channing Capital Management LLC Takes Position in Citizens Financial Group, Inc. $CFG

Channing Capital Management LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 141,614 shares of the bank’s stock, valued at approximately $7,528,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CFG. Vanguard Group Inc. raised its position in Citizens Financial Group by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock worth $2,306,817,000 after buying an additional 209,467 shares during the last quarter. Invesco Ltd. increased its stake in shares of Citizens Financial Group by 1.2% during the second quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock worth $1,059,293,000 after acquiring an additional 283,321 shares during the period. Nordea Investment Management AB raised its holdings in Citizens Financial Group by 4.9% during the third quarter. Nordea Investment Management AB now owns 6,715,372 shares of the bank’s stock worth $353,430,000 after purchasing an additional 315,467 shares in the last quarter. LSV Asset Management lifted its position in Citizens Financial Group by 14.5% in the second quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock valued at $293,685,000 after purchasing an additional 833,399 shares during the period. Finally, Ninety One UK Ltd purchased a new stake in Citizens Financial Group in the 3rd quarter valued at approximately $308,946,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CFG. Truist Financial boosted their target price on Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Weiss Ratings raised shares of Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Argus increased their price target on shares of Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a report on Friday, January 23rd. DA Davidson boosted their price objective on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $60.00 target price on shares of Citizens Financial Group in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $68.77.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $65.27 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $62.17 and its 200 day moving average price is $55.46. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $68.79. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.53 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group’s payout ratio is 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.