Aberdeen Group plc Acquires 14,401 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Aberdeen Group plc has increased its stake in Citizens Financial Group, acquiring an additional 14,401 shares which brings their total ownership to approximately 332,060 shares valued at around $14.86 million.
• Citizens Financial Group reported earnings of $0.92 per share, exceeding analyst estimates by $0.04, with a quarterly revenue of $2.04 billion, marking a 3.8% year-over-year increase.
• The company declared a quarterly dividend of $0.42 per share, reflecting an annualized payout of $1.68 and a dividend yield of 3.2%.

Aberdeen Group plc increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 332,060 shares of the bank's stock after purchasing an additional 14,401 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of Citizens Financial Group worth $14,860,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Heartland Bank & Trust Co bought a new stake in shares of Citizens Financial Group in the first quarter worth $398,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Citizens Financial Group by 19.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank's stock worth $2,248,000 after purchasing an additional 8,851 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Citizens Financial Group by 425.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank's stock worth $1,069,000 after purchasing an additional 21,138 shares during the last quarter. World Investment Advisors bought a new stake in shares of Citizens Financial Group in the first quarter worth $410,000. Finally, OneDigital Investment Advisors LLC lifted its holdings in Citizens Financial Group by 37.9% in the first quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank's stock valued at $292,000 after buying an additional 1,957 shares during the period. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $51.75 on Wednesday. The firm's 50-day moving average price is $51.20 and its 200-day moving average price is $44.98. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $55.24. The firm has a market capitalization of $22.32 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.56 and a beta of 0.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group's payout ratio is presently 51.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CFG shares. Wall Street Zen upgraded shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Evercore ISI boosted their target price on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 target price on the stock in a report on Wednesday, July 9th. Raymond James Financial set a $62.00 target price on shares of Citizens Financial Group and gave the company a "strong-buy" rating in a report on Tuesday, October 7th. Finally, Truist Financial boosted their target price on shares of Citizens Financial Group from $52.00 to $58.00 and gave the company a "hold" rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.86.

Citizens Financial Group Profile

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.

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