Crossmark Global Holdings Inc. raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 55.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,626 shares of the bank’s stock after buying an additional 47,605 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Citizens Financial Group were worth $8,520,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of CFG. Bank of America Corp DE bought a new stake in Citizens Financial Group in the second quarter valued at approximately $223,386,000. Freestone Grove Partners LP acquired a new stake in Citizens Financial Group in the second quarter worth $95,642,000. Tidal Investments LLC raised its holdings in Citizens Financial Group by 12.4% in the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock worth $10,187,000 after purchasing an additional 16,000 shares during the period. Junto Capital Management LP boosted its position in shares of 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 in the last quarter. Finally, Andra AP fonden boosted its position in shares of 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 in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on CFG shares. Truist Financial decreased their price target on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday. Jefferies Financial Group raised their price objective 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. TD Cowen assumed coverage on Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Evercore reissued an “outperform” rating and issued a $78.00 target price on shares of Citizens Financial Group in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $77.47.
Citizens Financial Group Stock Up 0.5%
Citizens Financial Group stock opened at $65.22 on Friday. The stock has a market capitalization of $27.47 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $67.30 and a 200-day moving average of $67.22.
Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.
Citizens Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is presently 37.02%.
Citizens Financial Group Company 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.
See Also
- Five stocks we like better than Citizens Financial Group
- Is Texas Instruments Setting Up for Its Next Big Breakout?
- Pegasystems’ Q3 Miss Exposed the Problem Standing Between AI and Cash Flow
- Lam Research’s Earnings Beat Wasn’t the Real Story—Its 2027 Outlook Was
- Tesla’s Flying-Car Hype Hits an Earnings Reality Check
Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG – Free Report).
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.
