Kornitzer Capital Management Inc. KS Sells 4,795 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Kornitzer Capital Management Inc. KS trimmed its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 411,660 shares of the bank’s stock after selling 4,795 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.09% of Citizens Financial Group worth $18,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Exchange Traded Concepts LLC raised its holdings in shares of Citizens Financial Group by 558.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,712 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,452 shares during the last quarter. Creative Planning grew its position in Citizens Financial Group by 1.1% in the 3rd quarter. Creative Planning now owns 208,476 shares of the bank’s stock worth $8,562,000 after purchasing an additional 2,245 shares during the period. Vontobel Holding Ltd. raised its stake in Citizens Financial Group by 124.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 14,897 shares of the bank’s stock valued at $612,000 after buying an additional 8,262 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Citizens Financial Group by 5.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 11,939 shares of the bank’s stock valued at $490,000 after buying an additional 668 shares during the period. Finally, Claro Advisors LLC purchased a new position in shares of Citizens Financial Group in the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $46.43 on Tuesday. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 0.84 and a beta of 1.10. The firm has a fifty day moving average price of $45.75 and a 200 day moving average price of $43.75. Citizens Financial Group, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.93 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.62%. Citizens Financial Group’s dividend payout ratio (DPR) is 55.45%.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent research reports. Raymond James reissued a “strong-buy” rating and issued a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Barclays increased their price objective on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Compass Point increased their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial boosted their price objective on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

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.