109,370 Citizens Financial Group, Inc. $CFG Shares Acquired by Signaturefd LLC

Key Points

• Signaturefd LLC increased its Citizens Financial Group stake by 1,515.9% in the third quarter, acquiring 109,370 shares and bringing its total holdings to 116,585 shares valued at approximately $7.43 million. Institutional investors own 94.9% of the stock.
• Analysts maintain a generally positive outlook, with one Strong Buy, 15 Buy, and four Hold ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $77.47.
• Citizens Financial Group exceeded quarterly earnings expectations with EPS of $1.41 versus a $1.39 estimate and raised its quarterly dividend to $0.52 per share, equivalent to a 3.2% annualized yield.

Signaturefd LLC boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 1,515.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 116,585 shares of the bank's stock after buying an additional 109,370 shares during the period. Signaturefd LLC's holdings in Citizens Financial Group were worth $7,433,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Citizens Financial Group in the 2nd quarter valued at $223,386,000. Freestone Grove Partners LP acquired a new stake in shares of Citizens Financial Group during the second quarter worth $95,642,000. Tidal Investments LLC boosted its holdings in Citizens Financial Group by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank's stock valued at $10,187,000 after purchasing an additional 16,000 shares during the period. Junto Capital Management LP increased its holdings 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 during the period. Finally, Sterling Investment Management LLC acquired a new stake in shares of Citizens Financial Group in the third quarter valued at approximately $2,164,000. 94.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, July 17th. Cantor Fitzgerald dropped their target price on shares of Citizens Financial Group from $84.00 to $78.00 and set an "overweight" rating for the company in a research report on Wednesday, October 14th. Barclays upped their price target on shares of Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Stephens reduced their price target on shares of Citizens Financial Group from $70.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their target price 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. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.47.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $65.19 on Friday. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-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 business's 50-day moving average price is $67.11 and its two-hundred day moving average price is $67.20. The stock has a market cap of $27.46 billion, a PE ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results 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 during 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 firm earned $1.05 earnings per share. As a group, analysts expect that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared 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. This is a boost from Citizens Financial Group's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group's payout ratio is presently 37.02%.

Citizens Financial Group 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.

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