Federated Hermes Inc. Sells 13,669 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Federated Hermes Inc. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 54.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,445 shares of the bank’s stock after selling 13,669 shares during the quarter. Federated Hermes Inc.’s holdings in Citizens Financial Group were worth $412,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Citizens Financial Group by 35.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock valued at $2,838,000 after purchasing an additional 20,649 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Citizens Financial Group by 101.6% in the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after acquiring an additional 383,947 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Citizens Financial Group by 96.3% in the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after acquiring an additional 1,212,642 shares in the last quarter. Duality Advisers LP bought a new stake in Citizens Financial Group during the 1st quarter worth approximately $1,180,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Citizens Financial Group during the 4th quarter valued at $5,965,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James began coverage on Citizens Financial Group in a report on Thursday, July 11th. They set a “market perform” rating on the stock. Evercore ISI increased their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Stephens boosted their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Jefferies Financial Group increased their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.20.

Citizens Financial Group Stock Down 1.5 %

Shares of NYSE:CFG opened at $41.04 on Tuesday. The company has a 50 day moving average price of $41.17 and a two-hundred day moving average price of $37.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $18.67 billion, a PE ratio of 14.87, a PEG ratio of 1.42 and a beta of 1.08. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts forecast that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.09%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

About Citizens Financial Group

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.