Handelsbanken Fonder AB Trims Position in Citizens Financial Group, Inc. $CFG

Handelsbanken Fonder AB decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 35.7% during the third quarter, Holdings Channel reports. The institutional investor owned 33,323 shares of the bank’s stock after selling 18,532 shares during the period. Handelsbanken Fonder AB’s holdings in Citizens Financial Group were worth $1,771,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Citizens Financial Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock valued at $2,306,817,000 after acquiring an additional 209,467 shares during the period. Invesco Ltd. raised its stake in Citizens Financial Group by 1.2% during the 2nd quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock valued at $1,059,293,000 after purchasing an additional 283,321 shares during the period. Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 4.9% in the 3rd 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 boosted its stake in Citizens Financial Group by 14.5% in the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock worth $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 during the 3rd quarter valued at approximately $308,946,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.8%

Shares of NYSE CFG opened at $60.17 on Thursday. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $68.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.85 and a quick ratio of 0.84. The business’s 50 day moving average is $62.57 and its two-hundred day moving average is $56.23. The stock has a market capitalization of $25.57 billion, a P/E ratio of 15.55, a PEG ratio of 0.49 and a beta of 0.70.

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

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. Citizens Financial Group’s payout ratio is 47.55%.

Wall Street Analyst Weigh In

CFG has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Evercore boosted their price target on shares of Citizens Financial Group from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. DA Davidson raised their price objective 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. JPMorgan Chase & Co. boosted their target price on Citizens Financial Group from $62.50 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Morgan Stanley raised their price target on Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Monday. Nineteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $69.73.

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.