Federated Hermes Inc. Purchases 22,319 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Federated Hermes Inc. raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 386.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,101 shares of the bank’s stock after acquiring an additional 22,319 shares during the period. Federated Hermes Inc.’s holdings in Citizens Financial Group were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. grew its stake in Citizens Financial Group by 5.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,594,481 shares of the bank’s stock valued at $310,732,000 after acquiring an additional 621,715 shares during the period. Wellington Management Group LLP grew its stake in Citizens Financial Group by 217.5% in the third quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after acquiring an additional 5,465,824 shares during the period. Royal Bank of Canada grew its stake in Citizens Financial Group by 6.4% in the third quarter. Royal Bank of Canada now owns 5,532,398 shares of the bank’s stock valued at $148,268,000 after acquiring an additional 332,222 shares during the period. Northern Trust Corp grew its stake in Citizens Financial Group by 3.6% in the third quarter. Northern Trust Corp now owns 4,825,592 shares of the bank’s stock valued at $129,326,000 after acquiring an additional 168,157 shares during the period. Finally, AQR Capital Management LLC grew its stake in Citizens Financial Group by 1,213.2% in the third quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock valued at $100,395,000 after acquiring an additional 3,460,792 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $35.00 to $41.00 in a research report on Friday, April 26th. Royal Bank of Canada upped their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 27th. Morgan Stanley upped their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Citigroup upped their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.73.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $34.70 on Thursday. The stock has a 50 day moving average price of $33.87 and a 200 day moving average price of $31.15. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $36.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $15.91 billion, a PE ratio of 12.57 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. Citizens Financial Group’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. Analysts predict that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.42 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.84%. Citizens Financial Group’s dividend payout ratio is 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group 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.