Brandywine Global Investment Management LLC Sells 5,520 Shares of Citizens Financial Group, Inc. $CFG

Brandywine Global Investment Management LLC decreased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,724 shares of the bank’s stock after selling 5,520 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Citizens Financial Group were worth $9,922,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CFG. IFP Advisors Inc grew its stake in shares of Citizens Financial Group by 6.2% in the first quarter. IFP Advisors Inc now owns 8,471 shares of the bank’s stock worth $347,000 after purchasing an additional 496 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Citizens Financial Group by 9.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 307,649 shares of the bank’s stock worth $12,604,000 after buying an additional 26,273 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Citizens Financial Group by 10.8% during the first quarter. Avantax Advisory Services Inc. now owns 37,662 shares of the bank’s stock valued at $1,543,000 after buying an additional 3,659 shares during the period. Assetmark Inc. raised its holdings in shares of Citizens Financial Group by 11,167.0% during the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock valued at $55,209,000 after acquiring an additional 1,335,577 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in Citizens Financial Group by 30.9% in the first quarter. HB Wealth Management LLC now owns 21,345 shares of the bank’s stock worth $875,000 after acquiring an additional 5,037 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley raised shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $53.00 to $71.00 in a research report on Monday, September 29th. Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Citizens Financial Group in a research report on Thursday, October 16th. Truist Financial decreased their price target on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Barclays lifted their price objective on Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Finally, Bank of America raised Citizens Financial Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $65.00 in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $56.57.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $52.31 on Friday. The company has a 50 day simple moving average of $51.72 and a two-hundred day simple moving average of $47.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $55.24. The company has a market capitalization of $22.47 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, October 29th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. Citizens Financial Group’s dividend payout ratio is 51.54%.

Citizens Financial Group 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.