Resona Asset Management Co. Ltd. Cuts Position in Citizens Financial Group, Inc. $CFG

Resona Asset Management Co. Ltd. reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,295 shares of the bank’s stock after selling 9,671 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Citizens Financial Group were worth $7,523,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CFG. Ninety One UK Ltd purchased a new stake in Citizens Financial Group during the third quarter worth about $308,946,000. Norges Bank acquired a new stake in Citizens Financial Group in the second quarter valued at $253,423,000. HoldCo Asset Management LP acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth $93,361,000. Marshall Wace LLP purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $67,492,000. Finally, Synergy Asset Management LLC acquired a new stake in Citizens Financial Group in the 3rd quarter valued at about $60,434,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Argus upped their price target on shares of Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 price target on shares of Citizens Financial Group in a report on Tuesday, January 6th. Truist Financial increased their price objective on Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, DA Davidson lifted their price target on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $67.55.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $62.54 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $65.88. The stock has a market capitalization of $26.86 billion, a P/E ratio of 16.16, a PEG ratio of 0.51 and a beta of 0.72. The business’s fifty day moving average price is $58.08 and its 200 day moving average price is $53.23.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Citizens Financial Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors 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 yield of 2.9%. The ex-dividend date of this dividend is Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is 47.55%.

Citizens Financial Group Profile

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.