Pinnacle Bancorp Inc. purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 21,078 shares of the bank’s stock, valued at approximately $1,344,000.
Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE purchased a new stake in shares of Citizens Financial Group in the second quarter valued at about $223,386,000. Freestone Grove Partners LP bought a new position in shares of Citizens Financial Group during the second quarter valued at about $95,642,000. Tidal Investments LLC lifted its position in shares of Citizens Financial Group by 12.4% during the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after purchasing an additional 16,000 shares in the last quarter. Junto Capital Management LP boosted its holdings in Citizens Financial Group by 3.3% during the second quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock worth $91,605,000 after purchasing an additional 42,248 shares during the last quarter. Finally, Andra AP fonden boosted its holdings in Citizens Financial Group by 94.7% during the second quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock worth $18,912,000 after purchasing an additional 131,300 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CFG shares. Royal Bank Of Canada reduced their price objective on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday. Stephens dropped their target price on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays boosted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Cantor Fitzgerald cut their target price on Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Finally, Argus set a $80.00 target price on Citizens Financial Group in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.47.
Read Our Latest Stock Analysis on Citizens Financial Group
Citizens Financial Group Stock Performance
Shares of CFG stock opened at $64.90 on Thursday. The firm has a market cap of $27.33 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The firm’s 50-day simple moving average is $67.48 and its two-hundred day simple moving average is $67.19.
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 5.30 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 Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.52 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group’s payout ratio is presently 37.02%.
Insider Buying and Selling
In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.
About Citizens Financial Group
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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