Northern Trust Corp Increases Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Northern Trust Corp raised its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 17.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,617,599 shares of the bank's stock after purchasing an additional 684,039 shares during the period. Northern Trust Corp owned 1.05% of Citizens Financial Group worth $202,066,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital World Investors grew its holdings in Citizens Financial Group by 3.3% in the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock valued at $1,570,989,000 after buying an additional 1,131,838 shares in the last quarter. Geode Capital Management LLC raised its position in Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock valued at $477,043,000 after purchasing an additional 124,860 shares during the period. Wellington Management Group LLP raised its holdings in shares of Citizens Financial Group by 27.8% in the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock valued at $462,547,000 after purchasing an additional 2,298,040 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Citizens Financial Group by 20.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after acquiring an additional 1,672,204 shares during the period. Finally, Norges Bank acquired a new position in Citizens Financial Group during the fourth quarter worth $243,431,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

Citizens Financial Group stock traded up $0.39 during midday trading on Wednesday, reaching $38.59. 647,191 shares of the company traded hands, compared to its average volume of 4,715,831. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day moving average of $38.82 and a two-hundred day moving average of $43.22. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74. 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 announced its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is presently 53.33%.

Wall Street Analyst Weigh In

CFG has been the topic of several recent research reports. Citigroup reduced their price objective on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Stephens cut their price objective on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 7th. Piper Sandler cut their price target on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Truist Financial decreased their price target on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.18.

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.