BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 32,116 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 57.7% in the second quarter, HoldingsChannel reports. The firm owned 87,803 shares of the bank’s stock after buying an additional 32,116 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Citizens Financial Group were worth $3,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFG. Corient Private Wealth LLC raised its position in Citizens Financial Group by 12.5% during the 4th quarter. Corient Private Wealth LLC now owns 70,115 shares of the bank’s stock valued at $2,324,000 after purchasing an additional 7,800 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Citizens Financial Group by 0.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 130,675 shares of the bank’s stock valued at $4,331,000 after purchasing an additional 745 shares during the last quarter. US Bancorp DE raised its position in Citizens Financial Group by 5.9% during the 4th quarter. US Bancorp DE now owns 32,329 shares of the bank’s stock valued at $1,071,000 after purchasing an additional 1,815 shares during the last quarter. Commerce Bank raised its position in Citizens Financial Group by 6.6% during the 4th quarter. Commerce Bank now owns 14,751 shares of the bank’s stock valued at $489,000 after purchasing an additional 913 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Citizens Financial Group by 4.2% during the 4th quarter. TD Asset Management Inc now owns 165,751 shares of the bank’s stock valued at $5,493,000 after acquiring an additional 6,749 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. UBS Group lifted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Stephens lifted their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Piper Sandler lifted their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $42.20.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $40.80 on Friday. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96. The firm has a market cap of $18.56 billion, a P/E ratio of 14.78, a PEG ratio of 1.43 and a beta of 1.08. The company has a 50 day moving average of $41.18 and a 200 day moving average of $37.30. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Citizens Financial Group’s revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.62% of the company’s stock.

About Citizens Financial Group

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.