Forum Financial Management LP Purchases 1,008 Shares of Citizens Financial Group, Inc. $CFG

Forum Financial Management LP lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 8.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,150 shares of the bank’s stock after acquiring an additional 1,008 shares during the period. Forum Financial Management LP’s holdings in Citizens Financial Group were worth $588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investors Research Corp lifted its holdings in Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after buying an additional 500 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after buying an additional 410 shares in the last quarter. REAP Financial Group LLC lifted its holdings in Citizens Financial Group by 72.4% during 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 in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Citizens Financial Group by 143.4% during 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 in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Citizens Financial Group during the 1st quarter valued at about $46,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 2.5%

NYSE CFG opened at $52.22 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $22.52 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79. The company has a 50 day moving average price of $51.64 and a 200 day moving average price of $45.64. 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 quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm 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%. Citizens Financial Group’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be paid a dividend of $0.46 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, October 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 51.54%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research analyst reports. Wells Fargo & Company set a $57.00 price objective on shares of Citizens Financial Group in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Wednesday, July 9th. Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Barclays raised their target price on shares of Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Finally, Citigroup raised their target price on shares of Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $56.57.

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.