Chicago Partners Investment Group LLC Takes Position in Citizens Financial Group, Inc. $CFG

Chicago Partners Investment Group LLC bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,353 shares of the bank’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Investors Research Corp boosted its holdings in shares of Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock worth $29,000 after acquiring an additional 410 shares in the last quarter. REAP Financial Group LLC grew its stake in Citizens Financial Group by 72.4% in the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after buying an additional 309 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Citizens Financial Group by 143.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after buying an additional 634 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Citizens Financial Group in the 1st quarter worth $46,000. Institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CFG shares. JPMorgan Chase & Co. raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $48.50 to $52.00 in a research note on Friday, August 1st. Cantor Fitzgerald began coverage on shares of Citizens Financial Group in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 target price for the company. DA Davidson reissued a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a research report on Thursday, October 16th. Wells Fargo & Company set a $57.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Citizens Financial Group Stock Down 0.5%

Shares of NYSE CFG opened at $50.59 on Thursday. The company has a market capitalization of $21.82 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.54 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. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The company’s 50 day moving average price is $51.53 and its 200-day moving average price is $45.41.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. Citizens Financial Group’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be issued a $0.46 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.6%. Citizens Financial Group’s payout ratio is presently 47.06%.

Citizens Financial Group 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.