Federated Hermes Inc. Sells 133,122 Shares of Citizens Financial Group, Inc. $CFG

Federated Hermes Inc. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 20.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 530,529 shares of the bank’s stock after selling 133,122 shares during the period. Federated Hermes Inc.’s holdings in Citizens Financial Group were worth $23,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFG. StoneX Group Inc. grew its stake in Citizens Financial Group by 0.4% during the second quarter. StoneX Group Inc. now owns 60,307 shares of the bank’s stock valued at $2,699,000 after acquiring an additional 213 shares in the last quarter. Brookstone Capital Management boosted its holdings in Citizens Financial Group by 2.9% in the 2nd quarter. Brookstone Capital Management now owns 7,497 shares of the bank’s stock valued at $336,000 after purchasing an additional 214 shares during the period. Lynx Investment Advisory grew its position in shares of Citizens Financial Group by 2.8% during the 2nd quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock valued at $401,000 after purchasing an additional 243 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Citizens Financial Group by 2.3% in the second quarter. Wealthspire Advisors LLC now owns 11,570 shares of the bank’s stock worth $518,000 after purchasing an additional 257 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after buying an additional 274 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 0.3%

Shares of CFG opened at $55.96 on Wednesday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $56.73. The firm has a market cap of $24.03 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.59 and a beta of 0.74. The firm has a 50 day moving average price of $52.18 and a 200-day moving average price of $49.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were paid a $0.46 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.3%. Citizens Financial Group’s dividend payout ratio is presently 51.54%.

Analyst Ratings Changes

Several research firms recently commented on CFG. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $53.00 to $71.00 in a research report on Monday, September 29th. Barclays lifted their price target on Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Cantor Fitzgerald initiated coverage on shares of Citizens Financial Group in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price objective on the stock. Truist Financial dropped their target price on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Finally, Cowen reissued a “buy” rating on shares of Citizens Financial Group in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $56.55.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.