First Hawaiian Bank Increases Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

First Hawaiian Bank raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 26.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,191 shares of the bank’s stock after acquiring an additional 6,332 shares during the quarter. First Hawaiian Bank’s holdings in Citizens Financial Group were worth $1,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in Citizens Financial Group by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 540,823 shares of the bank’s stock valued at $19,486,000 after purchasing an additional 2,332 shares during the period. Acadian Asset Management LLC bought a new position in shares of Citizens Financial Group during the second quarter valued at approximately $3,856,000. Caprock Group LLC lifted its stake in Citizens Financial Group by 120.4% in the second quarter. Caprock Group LLC now owns 15,739 shares of the bank’s stock worth $567,000 after acquiring an additional 8,599 shares during the period. Ballentine Partners LLC boosted its holdings in Citizens Financial Group by 13.3% in the second quarter. Ballentine Partners LLC now owns 6,473 shares of the bank’s stock valued at $233,000 after acquiring an additional 758 shares in the last quarter. Finally, Choreo LLC purchased a new position in Citizens Financial Group during the 2nd quarter valued at $369,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Up 0.2 %

Citizens Financial Group stock opened at $44.77 on Friday. Citizens Financial Group, Inc. has a 12-month low of $30.24 and a 12-month high of $49.25. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.76 and a beta of 1.10. The firm has a 50 day moving average of $45.47 and a 200 day moving average of $42.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. Citizens Financial Group’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.75%. Citizens Financial Group’s payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CFG shares. Evercore ISI cut their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 2nd. Raymond James upgraded Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial began coverage on Citizens Financial Group in a research note on Tuesday. They issued a “hold” rating and a $49.00 price target on the stock. Finally, Compass Point raised their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $47.78.

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.