Citizens Financial Group, Inc. $CFG Shares Purchased by Bryn Mawr Trust Advisors LLC

Key Points

• Bryn Mawr Trust Advisors increased its Citizens Financial Group stake by 1,199.9% in the third quarter, adding 45,898 shares to hold 49,723 shares valued at about $3.17 million.
• Institutional investors own 94.9% of CFG shares. Analysts’ consensus rating is Moderate Buy, with an average price target of $76.79.
• Citizens beat quarterly EPS estimates ($1.41 versus $1.39) but reported revenue slightly below expectations. It also raised its quarterly dividend from $0.46 to $0.52 per share.

Bryn Mawr Trust Advisors LLC lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 1,199.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,723 shares of the bank's stock after buying an additional 45,898 shares during the period. Bryn Mawr Trust Advisors LLC's holdings in Citizens Financial Group were worth $3,170,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CFG. Bank of America Corp DE purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth about $223,386,000. Tidal Investments LLC raised its position in Citizens Financial Group by 12.4% during 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 in the last quarter. Freestone Grove Partners LP bought a new position in Citizens Financial Group during the 2nd quarter worth about $95,642,000. Citizens Financial Group Inc. RI lifted its position in shares of Citizens Financial Group by 145.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 773,677 shares of the bank's stock worth $49,330,000 after purchasing an additional 458,698 shares during the period. Finally, Sterling Investment Management LLC bought a new position in shares of Citizens Financial Group during the third quarter valued at approximately $2,164,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Robert W. Baird boosted 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. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of Citizens Financial Group in a report on Friday, October 30th. Argus dropped their price objective on Citizens Financial Group from $80.00 to $78.00 in a research report on Monday, October 19th. Finally, Citigroup reduced their target price on shares of Citizens Financial Group from $84.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, October 20th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.79.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $65.27 on Tuesday. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33. The business's fifty day simple moving average is $65.78 and its 200-day simple moving average is $65.65. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a market cap of $27.36 billion, a PE ratio of 13.13, a PEG ratio of 0.60 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter last year, the firm earned $1.05 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. This is a boost from Citizens Financial Group's previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. Citizens Financial Group's dividend payout ratio (DPR) is 41.85%.

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.

Citizens traces its history to High Street Bank, founded in Providence in 1828.

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