Citizens Financial Group, Inc. $CFG Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,714 shares of the bank’s stock after selling 12,920 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.09% of Citizens Financial Group worth $20,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its holdings in Citizens Financial Group by 1.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock worth $1,582,000 after buying an additional 512 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Citizens Financial Group by 37.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after acquiring an additional 129,995 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Citizens Financial Group by 5.3% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after acquiring an additional 42,971 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Citizens Financial Group in the 3rd quarter worth approximately $60,434,000. Finally, OLD National Bancorp IN acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $1,848,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 0.2%

NYSE CFG opened at $62.54 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $26.86 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.51 and a beta of 0.72. The firm has a 50 day simple moving average of $58.08 and a 200-day simple moving average of $53.23. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $65.88.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CFG shares. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. TD Cowen lifted their price target on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reissued a “buy (b-)” rating on shares of Citizens Financial Group in a report on Monday, December 29th. Citigroup increased their target price on shares of Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial boosted their price target on shares of Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a research note on Monday. 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.55.

Citizens Financial Group Company 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.