4,630 Shares in Citizens Financial Group, Inc. $CFG Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,630 shares of the bank’s stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in CFG. Investors Research Corp raised its stake in shares of Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after purchasing an additional 500 shares during the period. Trust Co. of Vermont raised its stake in shares of Citizens Financial Group by 177.5% during the second quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after purchasing an additional 410 shares during the period. REAP Financial Group LLC raised its stake 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 purchasing an additional 309 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in shares of Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after purchasing an additional 634 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Citizens Financial Group during the first quarter valued at approximately $46,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CFG. Morgan Stanley upgraded shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Barclays lifted their price target on shares of Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 16th. DA Davidson restated a “buy” rating and issued a $59.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 16th. JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $48.50 to $52.00 in a research note on Friday, August 1st. Finally, Citigroup lifted their price target on shares of Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.57.

Citizens Financial Group Stock Up 2.1%

Citizens Financial Group stock opened at $50.34 on Tuesday. The company has a 50-day simple moving average of $51.43 and a 200-day simple moving average of $45.33. The firm has a market capitalization of $21.71 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.54 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $55.24.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, October 29th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio is presently 47.06%.

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.