Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Citizens Financial Group, Inc. $CFG

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 874,192 shares of the bank’s stock after acquiring an additional 17,988 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Citizens Financial Group worth $46,472,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CFG. AlphaCore Capital LLC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth about $60,000. Intech Investment Management LLC increased its stake in Citizens Financial Group by 43.9% during the 3rd quarter. Intech Investment Management LLC now owns 82,794 shares of the bank’s stock worth $4,401,000 after buying an additional 25,274 shares in the last quarter. US Bancorp DE raised its holdings in shares of Citizens Financial Group by 1.9% during the third quarter. US Bancorp DE now owns 33,254 shares of the bank’s stock valued at $1,768,000 after acquiring an additional 611 shares during the last quarter. Hager Investment Management Services LLC lifted its position in shares of Citizens Financial Group by 52.5% in the third quarter. Hager Investment Management Services LLC now owns 21,324 shares of the bank’s stock valued at $1,134,000 after acquiring an additional 7,344 shares in the last quarter. Finally, MAI Capital Management boosted its stake in shares of Citizens Financial Group by 71.8% in the third quarter. MAI Capital Management now owns 9,555 shares of the bank’s stock worth $508,000 after acquiring an additional 3,992 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Argus increased their price objective on Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Robert W. Baird reiterated a “neutral” rating and issued a $60.00 target price on shares of Citizens Financial Group in a research report on Thursday, December 11th. Citigroup boosted their price target on shares of Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Raymond James Financial cut shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and upped their price objective for the company from $62.00 to $66.00 in a research note on Wednesday, January 7th. Finally, Truist Financial raised their target price on shares of Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.77.

Citizens Financial Group Trading Down 5.9%

Shares of Citizens Financial Group stock opened at $60.07 on Friday. The stock has a 50 day moving average of $62.54 and a 200 day moving average of $55.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.49 and a beta of 0.72. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $68.79.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $0.85 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared 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 dividend yield of 3.1%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 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.