Citizens Financial Group, Inc. $CFG Position Increased by Fifth Third Bancorp

Fifth Third Bancorp grew its position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 4,720.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,672,049 shares of the bank’s stock after buying an additional 4,575,137 shares during the period. Fifth Third Bancorp’s holdings in Citizens Financial Group were worth $297,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Citizens Financial Group during the second quarter valued at approximately $3,415,046,000. Robeco Institutional Asset Management B.V. boosted its stake 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 acquiring an additional 12,014,785 shares in 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 worth $586,883,000 after purchasing an additional 8,523,938 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Citizens Financial Group by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares during the last quarter. Finally, Amundi grew its holdings in Citizens Financial Group by 31.2% in the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after purchasing an additional 875,666 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $65.41 on Thursday. The company has a 50 day moving average price of $65.65 and a 200 day moving average price of $65.67. The firm has a market capitalization of $27.42 billion, a P/E ratio of 13.16, a PEG ratio of 0.59 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33.

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, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter in the previous year, the firm earned $1.05 EPS. Sell-side analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS 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. Shareholders of record on Friday, October 30th will be issued a $0.52 dividend. 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%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is 41.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CFG shares. Raymond James Financial reduced their price target on Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Royal Bank Of Canada lowered their price objective on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research note on Friday, October 30th. TD Cowen began coverage on Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Argus reduced their target price on Citizens Financial Group from $80.00 to $78.00 in a research report on Monday, October 19th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.79.

Check Out Our Latest Research Report on CFG

Citizens Financial Group Company Profile

(Free Report)

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.

Further Reading

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).

Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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.