Ethic Inc. grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 1,153.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 952,255 shares of the bank’s stock after acquiring an additional 876,299 shares during the quarter. Citizens Financial Group makes up about 0.7% of Ethic Inc.’s holdings, making the stock its 20th biggest holding. Ethic Inc.’s holdings in Citizens Financial Group were worth $60,716,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. StoneX Group Inc. boosted its holdings in shares of Citizens Financial Group by 96.3% in the 3rd quarter. StoneX Group Inc. now owns 78,640 shares of the bank’s stock worth $5,014,000 after purchasing an additional 38,583 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Citizens Financial Group by 436.1% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,722,655 shares of the bank’s stock valued at $109,836,000 after purchasing an additional 1,401,301 shares during the last quarter. Vestor Capital LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $159,000. Parallel Advisors LLC raised its holdings in shares of Citizens Financial Group by 2.6% during the 3rd quarter. Parallel Advisors LLC now owns 7,111 shares of the bank’s stock valued at $453,000 after buying an additional 181 shares in the last quarter. Finally, Asset Dedication LLC raised its holdings in shares of Citizens Financial Group by 15,615.0% during the 3rd quarter. Asset Dedication LLC now owns 19,958 shares of the bank’s stock valued at $1,273,000 after buying an additional 19,831 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.
Citizens Financial Group Stock Performance
NYSE CFG opened at $63.34 on Friday. The company has a 50-day simple moving average of $65.87 and a two-hundred day simple moving average of $65.64. 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 12-month low of $49.00 and a 12-month high of $75.33. The firm has a market cap of $26.55 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 0.58 and a beta of 0.74.
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.
Citizens Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is currently 41.85%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the company. Raymond James Financial dropped their target price on Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Evercore set a $74.00 price target on shares of Citizens Financial Group in a research report on Tuesday, October 27th. TD Cowen began coverage on shares of Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research note on Friday, October 30th. Finally, Royal Bank Of Canada lowered 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 report on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.79.
Read Our Latest Stock Report on Citizens Financial Group
Citizens Financial Group 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.
Citizens traces its history to High Street Bank, founded in Providence in 1828.
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