Bank of New York Mellon Corp Has $144.43 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Bank of New York Mellon Corp lowered its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,525,227 shares of the bank's stock after selling 17,980 shares during the period. Bank of New York Mellon Corp owned 0.81% of Citizens Financial Group worth $144,429,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CFG. Ameriflex Group Inc. acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $26,000. Grove Bank & Trust grew its holdings in shares of Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after buying an additional 334 shares during the period. Colonial Trust Co SC grew its holdings in shares of Citizens Financial Group by 673.0% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after buying an additional 774 shares during the period. NBT Bank N A NY acquired a new position in shares of Citizens Financial Group in the 1st quarter valued at $45,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Citizens Financial Group in the 1st quarter valued at $46,000. Institutional investors own 94.90% of the company's stock.

Analyst Upgrades and Downgrades

CFG has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price target on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Morgan Stanley decreased their price target on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Truist Financial cut their price objective on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company set a $57.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $48.00 price objective (down from $58.00) on shares of Citizens Financial Group in a research report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.32.

Citizens Financial Group Stock Performance

Shares of CFG stock traded down $0.27 on Friday, reaching $47.63. The stock had a trading volume of 3,356,874 shares, compared to its average volume of 4,852,157. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The firm's 50-day moving average is $41.96 and its two-hundred day moving average is $42.27. The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.81 and a beta of 0.76. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.76% and a return on equity of 6.84%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group declared that its Board of Directors has initiated a share buyback program on Friday, June 13th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the bank to buy up to 8.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.53%. Citizens Financial Group's dividend payout ratio (DPR) is currently 53.33%.

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.