Victory Capital Management Inc. Buys 2,332 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Victory Capital Management Inc. lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 0.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 540,823 shares of the bank’s stock after acquiring an additional 2,332 shares during the quarter. Victory Capital Management Inc.’s holdings in Citizens Financial Group were worth $19,486,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors grew its stake in shares of Citizens Financial Group by 4.4% in the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after acquiring an additional 1,552,333 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Citizens Financial Group by 15.3% in the first quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock valued at $130,722,000 after acquiring an additional 480,129 shares in the last quarter. Norges Bank acquired a new position in shares of Citizens Financial Group in the fourth quarter valued at about $117,372,000. Hsbc Holdings PLC grew its stake in Citizens Financial Group by 96.3% during the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after buying an additional 1,212,642 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Citizens Financial Group by 130.0% during the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock worth $64,796,000 after buying an additional 1,105,011 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 0.1 %

Shares of NYSE CFG opened at $39.71 on Friday. The company has a 50 day simple moving average of $40.61 and a 200 day simple moving average of $36.70. The firm has a market cap of $18.07 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $43.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86.

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

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.23%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 33,620 shares in the company, valued at approximately $1,454,401.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CFG shares. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Raymond James started coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating on the stock. Jefferies Financial Group increased their price objective on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley increased their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and an average price target of $42.20.

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.