511,888 Citizens Financial Group, Inc. $CFG Shares Bought by Lido Advisors LLC

Key Points

• Lido Advisors increased its Citizens Financial Group holdings by 511,888 shares in the third quarter, a 2,693% rise, bringing its position to 530,896 shares valued at about $33.9 million.
• Citizens reported quarterly EPS of $1.41, beating estimates of $1.39, while revenue of $2.32 billion fell short of expectations. The bank raised its quarterly dividend from $0.46 to $0.52 per share, a 3.2% yield.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $76.79; CFG recently traded at $64.91.

Lido Advisors LLC raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 2,693.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 530,896 shares of the bank's stock after purchasing an additional 511,888 shares during the quarter. Lido Advisors LLC owned 0.13% of Citizens Financial Group worth $33,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CFG. Elevation Wealth Partners LLC increased its holdings in shares of Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock worth $30,000 after buying an additional 323 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $29,000. Keating Financial Advisory Services Inc. bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $35,000. Virtus Advisers LLC bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $35,000. Finally, Transamerica Financial Advisors LLC bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $38,000. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Down 0.3%

CFG stock opened at $64.91 on Wednesday. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The stock has a market capitalization of $27.21 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth 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. The firm's fifty day simple moving average is $65.70 and its two-hundred day simple moving average is $65.65.

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 (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $1.05 EPS. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The company 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 represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, October 30th. This is a positive change from Citizens Financial Group's previous quarterly dividend of $0.46. Citizens Financial Group's payout ratio is currently 41.85%.

Analysts Set New Price Targets

Several research analysts recently commented on CFG shares. DA Davidson set a $82.00 price target on Citizens Financial Group in a research report on Monday, October 19th. Truist Financial decreased their price objective on Citizens Financial Group from $77.00 to $70.00 and set a "hold" rating on the stock in a research report on Tuesday, October 20th. Bank of America decreased their price objective on Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Morgan Stanley lowered their price objective on Citizens Financial Group from $89.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Finally, The Goldman Sachs Group dropped their target price on Citizens Financial Group from $81.00 to $79.00 and set a "buy" rating for the company in a report on Monday, October 19th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.79.

About Citizens Financial Group

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.