LPL Financial LLC Has $17.17 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

LPL Financial LLC raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 392,417 shares of the bank’s stock after buying an additional 8,321 shares during the period. LPL Financial LLC owned about 0.09% of Citizens Financial Group worth $17,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. State Street Corp increased its stake in shares of Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Citizens Financial Group in the fourth quarter valued at about $56,483,000. Bank of New York Mellon Corp raised its holdings in shares of Citizens Financial Group by 31.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock valued at $155,051,000 after buying an additional 839,041 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after buying an additional 805,758 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CFG. Stephens reaffirmed an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Truist Financial lowered their target price on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Citigroup cut their price target on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Piper Sandler lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $41.01 on Tuesday. The stock’s fifty day simple moving average is $44.53 and its 200 day simple moving average is $44.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $17.92 billion, a PE ratio of 13.53, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group, Inc. has a 12 month low of $32.06 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Citizens Financial Group’s revenue was down .1% compared to the same quarter last year. On average, research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Citizens Financial Group Company 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.