Herold Advisors Inc. lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 1,866.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,079 shares of the bank’s stock after buying an additional 76,007 shares during the quarter. Citizens Financial Group makes up 0.9% of Herold Advisors Inc.’s investment portfolio, making the stock its 28th largest position. Herold Advisors Inc.’s holdings in Citizens Financial Group were worth $5,106,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Citizens Financial Group in the 2nd quarter worth approximately $3,415,046,000. Assenagon Asset Management S.A. raised its stake in Citizens Financial Group by 1,252.4% during the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after purchasing an additional 8,523,938 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Citizens Financial Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock valued at $282,927,000 after buying an additional 28,602 shares during the period. Amundi increased its holdings in shares of Citizens Financial Group by 31.2% during the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after buying an additional 875,666 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth $223,386,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
Citizens Financial Group Stock Performance
NYSE CFG traded down $0.75 during trading hours on Monday, reaching $62.61. The company’s stock had a trading volume of 2,504,755 shares, compared to its average volume of 4,608,088. The stock has a market cap of $26.37 billion, a PE ratio of 12.60, a PEG ratio of 0.58 and a beta of 0.72. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The business has a 50-day simple moving average of $68.03 and a 200 day simple moving average of $67.11.
Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company posted $1.05 EPS. Equities research analysts predict that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current fiscal year.
Citizens Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, October 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is 37.02%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Jefferies Financial Group upped their price target on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Cantor Fitzgerald decreased their price target on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Truist Financial cut their price objective on Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.58.
Check Out Our Latest Analysis on Citizens Financial Group
Insiders Place Their Bets
In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by corporate insiders.
Citizens Financial Group Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.
The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.
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