Zurcher Kantonalbank Zurich Cantonalbank Purchases 242,275 Shares of Citizens Financial Group, Inc. $CFG

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 230.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 347,427 shares of the bank’s stock after buying an additional 242,275 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Citizens Financial Group were worth $20,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortis Capital Advisors LLC grew its holdings in shares of Citizens Financial Group by 34.7% during the fourth quarter. Fortis Capital Advisors LLC now owns 12,199 shares of the bank’s stock worth $713,000 after purchasing an additional 3,141 shares during the last quarter. Krilogy Financial LLC lifted its holdings in Citizens Financial Group by 10.2% during the 4th quarter. Krilogy Financial LLC now owns 25,331 shares of the bank’s stock worth $1,584,000 after buying an additional 2,351 shares during the period. Earned Wealth Advisors LLC acquired a new position in Citizens Financial Group during the 4th quarter worth about $216,000. Sterling Investment Counsel LLC lifted its holdings in Citizens Financial Group by 39.0% during the 4th quarter. Sterling Investment Counsel LLC now owns 31,925 shares of the bank’s stock worth $1,732,000 after buying an additional 8,953 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Citizens Financial Group by 14.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,550 shares of the bank’s stock worth $1,025,000 after buying an additional 2,182 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CFG has been the topic of several recent research reports. Barclays set a $77.00 target price on Citizens Financial Group and gave the stock an “overweight” rating in a report on Monday, January 5th. Weiss Ratings raised Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. JPMorgan Chase & Co. cut their target price on Citizens Financial Group from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Bank of America lifted their target price on Citizens Financial Group from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Morgan Stanley cut their target price on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.86.

Citizens Financial Group Stock Down 0.2%

Shares of NYSE:CFG opened at $65.17 on Thursday. The company has a market capitalization of $27.69 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The business’s 50-day moving average is $61.28 and its 200-day moving average is $58.34. Citizens Financial Group, Inc. has a 1 year low of $35.90 and a 1 year high of $68.79.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Equities research analysts predict that Citizens Financial Group, Inc. will post 5.18 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, April 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Activity

In other news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company’s stock, valued at $9,632,956.84. The trade was a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.