PDS Planning Inc Takes $224,000 Position in Citizens Financial Group, Inc. $CFG

PDS Planning Inc acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, Holdings Channel reports. The institutional investor acquired 4,996 shares of the bank’s stock, valued at approximately $224,000.

Other hedge funds have also recently modified their holdings of the company. Lynx Investment Advisory raised its holdings in shares of Citizens Financial Group by 2.8% during the second quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock valued at $401,000 after acquiring an additional 243 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after acquiring an additional 274 shares during the last quarter. Old Port Advisors raised its holdings in shares of Citizens Financial Group by 0.9% during the first quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock valued at $1,342,000 after acquiring an additional 296 shares during the last quarter. REAP Financial Group LLC raised its holdings in shares of Citizens Financial Group by 72.4% during the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after acquiring an additional 309 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock valued at $28,000 after acquiring an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CFG shares. DA Davidson increased their target price on Citizens Financial Group from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, July 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Citizens Financial Group in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Wednesday, July 9th. Barclays increased their target price on Citizens Financial Group from $49.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Finally, Evercore ISI increased their price target on Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.86.

Citizens Financial Group Price Performance

CFG stock opened at $49.25 on Monday. The business has a fifty day moving average of $51.06 and a two-hundred day moving average of $44.86. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.55 and a beta of 0.79. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $55.24.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.06%.

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.