Bank of New York Mellon Corp Decreases Stock Position in Citizens Financial Group, Inc. $CFG

Bank of New York Mellon Corp lessened its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,288,013 shares of the bank’s stock after selling 36,120 shares during the period. Bank of New York Mellon Corp’s holdings in Citizens Financial Group were worth $174,791,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CFG. New Street Research set a $73.00 price target on Citizens Financial Group in a report on Thursday, January 22nd. UBS Group raised their target price on Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Stephens reissued an “overweight” rating and issued a $60.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Raymond James Financial cut shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $62.00 to $66.00 in a research note on Wednesday, January 7th. Finally, TD Cowen increased their target price on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.55.

Citizens Financial Group Trading Down 0.8%

NYSE CFG opened at $62.98 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $59.04 and its two-hundred day simple moving average is $53.59. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $65.88. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.52 and a beta of 0.72.

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

Citizens Financial Group Announces Dividend

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

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.