Citizens Financial Group, Inc. $CFG Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its Citizens Financial Group stake by 55.3% in the third quarter, acquiring 47,605 additional shares for a total position worth approximately $8.52 million. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group reported quarterly EPS of $1.41, surpassing estimates of $1.39, while revenue of $2.32 billion came in slightly below expectations. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $77.47.
• The bank raised its quarterly dividend from $0.46 to $0.52 per share, equivalent to an annualized dividend of $2.08 and a yield of approximately 3.2%.

Crossmark Global Holdings Inc. raised its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 55.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,626 shares of the bank's stock after acquiring an additional 47,605 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Citizens Financial Group were worth $8,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. 55 North Private Wealth LLC lifted its position in shares of Citizens Financial Group by 4.6% during the third quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank's stock worth $244,000 after purchasing an additional 170 shares in the last quarter. Cookson Peirce & Co. Inc. grew its stake in shares of Citizens Financial Group by 0.3% during the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank's stock valued at $3,946,000 after purchasing an additional 174 shares during the last quarter. Trustmark Bank Trust Department grew its stake in shares of Citizens Financial Group by 4.9% during the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank's stock valued at $300,000 after purchasing an additional 198 shares during the last quarter. GoalVest Advisory LLC increased its holdings in shares of Citizens Financial Group by 29.9% in the third quarter. GoalVest Advisory LLC now owns 883 shares of the bank's stock valued at $56,000 after purchasing an additional 203 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Citizens Financial Group by 0.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 64,323 shares of the bank's stock valued at $3,757,000 after purchasing an additional 220 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Up 0.5%

Shares of NYSE CFG opened at $65.22 on Friday. The company's 50 day simple moving average is $67.30 and its 200 day simple moving average is $67.22. Citizens Financial Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $75.33. The firm has a market capitalization of $27.47 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.34 billion. During the same period last year, the firm earned $1.05 earnings per share. On average, analysts predict that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.52 dividend. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group's dividend payout ratio (DPR) is currently 37.02%.

Analyst Ratings Changes

CFG has been the subject of several research analyst reports. Citigroup dropped their price objective on shares of Citizens Financial Group from $84.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. UBS Group decreased their price objective on Citizens Financial Group from $82.00 to $77.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. DA Davidson set a $82.00 target price on Citizens Financial Group in a research note on Monday. Finally, Barclays boosted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and an average price target of $77.47.

About Citizens Financial Group

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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