Quantessence Capital LLC Takes Position in Citizens Financial Group, Inc. (NYSE:CFG)

Quantessence Capital LLC bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,415 shares of the bank's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CFG. Norges Bank bought a new stake in shares of Citizens Financial Group during the 4th quarter worth about $243,431,000. Wellington Management Group LLP boosted its stake in Citizens Financial Group by 27.8% during the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock valued at $462,547,000 after buying an additional 2,298,040 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Citizens Financial Group in the 4th quarter valued at about $56,483,000. Capital World Investors lifted its stake in Citizens Financial Group by 3.3% during the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock valued at $1,570,989,000 after purchasing an additional 1,131,838 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Citizens Financial Group by 31.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank's stock valued at $155,051,000 after acquiring an additional 839,041 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada dropped their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Stephens lowered their price target on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Barclays dropped their price objective on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson decreased their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $46.18.

Citizens Financial Group Trading Down 0.2 %

Shares of NYSE:CFG traded down $0.07 during trading on Monday, hitting $36.99. 572,306 shares of the company's stock were exchanged, compared to its average volume of 4,784,555. The firm has a 50-day moving average price of $39.87 and a two-hundred day moving average price of $43.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a market cap of $16.17 billion, a P/E ratio of 12.19, a PEG ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.54%. Citizens Financial Group's dividend payout ratio is 53.33%.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.