Jacobi Capital Management LLC acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 136,347 shares of the bank’s stock, valued at approximately $8,693,000.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Citizens Financial Group during the second quarter worth $3,415,046,000. Robeco Institutional Asset Management B.V. grew its holdings in Citizens Financial Group by 7,979.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after purchasing an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Citizens Financial Group by 1,252.4% in the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after purchasing an additional 8,523,938 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Citizens Financial Group by 4,682.2% in the third quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank’s stock valued at $209,509,000 after buying an additional 3,217,195 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Citizens Financial Group in the second quarter valued at $223,386,000. 94.90% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CFG has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research note on Friday, October 2nd. DA Davidson set a $82.00 price objective on shares of Citizens Financial Group in a research note on Monday, October 19th. Argus dropped their target price on shares of Citizens Financial Group from $80.00 to $78.00 in a report on Monday, October 19th. Royal Bank Of Canada dropped their target price on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.
View Our Latest Analysis on Citizens Financial Group
Citizens Financial Group Price Performance
Shares of NYSE:CFG opened at $65.41 on Thursday. The business’s fifty day moving average price is $65.65 and its two-hundred day moving average price is $65.67. The stock has a market cap of $27.42 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. 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 one year low of $49.00 and a one year high of $75.33.
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping 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 company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, analysts forecast 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 paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio is 41.85%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.
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