Victory Capital Management Inc. Purchases 2,232,806 Shares of Citizens Financial Group, Inc. $CFG

Victory Capital Management Inc. lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 89.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,731,592 shares of the bank’s stock after buying an additional 2,232,806 shares during the period. Victory Capital Management Inc.’s holdings in Citizens Financial Group were worth $276,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Citizens Financial Group by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after purchasing an additional 172 shares during the period. AA Financial Advisors LLC increased its holdings in shares of Citizens Financial Group by 3.9% in the fourth quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock valued at $272,000 after purchasing an additional 174 shares during the period. Inscription Capital LLC increased its holdings in shares of Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock valued at $637,000 after purchasing an additional 175 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after purchasing an additional 175 shares during the period. Finally, Grove Bank & Trust increased its holdings in shares of Citizens Financial Group by 19.8% in the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after purchasing an additional 183 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Up 1.5%

Shares of NYSE:CFG opened at $67.54 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a 52-week low of $40.17 and a 52-week high of $68.79. The stock’s fifty day simple moving average is $63.54 and its 200-day simple moving average is $61.33. The company has a market capitalization of $28.56 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.53 and a beta of 0.68.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 43.50%.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Truist Financial lifted their price target on Citizens Financial Group from $63.00 to $69.00 and gave the company a “hold” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. DA Davidson lifted their price target on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Robert W. Baird upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Monday, March 9th. Nineteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average target price of $70.88.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.