Bank of New York Mellon Corp Sells 36,120 Shares of Citizens Financial Group, Inc. $CFG

Bank of New York Mellon Corp trimmed its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,288,013 shares of the bank’s stock after selling 36,120 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of Citizens Financial Group worth $174,791,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its position in shares of Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after purchasing an additional 274 shares during the period. Empowered Funds LLC raised its holdings in Citizens Financial Group by 6.7% during the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after buying an additional 554 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after buying an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Citizens Financial Group by 93.4% in the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after buying an additional 4,739 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Citizens Financial Group by 1.5% during the second quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock valued at $1,582,000 after buying an additional 512 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.8%

CFG stock opened at $62.98 on Friday. The stock has a market cap of $27.05 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.52 and a beta of 0.72. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $59.04 and its two-hundred day simple moving average is $53.59. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $65.88.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is currently 47.55%.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $73.00 target price on shares of Citizens Financial Group in a report on Tuesday, January 6th. TD Cowen boosted their price objective on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Citizens Financial Group in a report on Thursday, October 16th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 21st. Finally, UBS Group increased their price target on Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.55.

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.