Citizens Financial Group, Inc. $CFG Stock Bought by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its Citizens Financial Group position by 635.6% in the third quarter, bringing its holdings to 126,155 shares valued at approximately $8.04 million. Institutional investors collectively own 94.9% of the company.
• Citizens Financial Group reported quarterly EPS of $1.41, beating estimates of $1.39, while revenue of $2.32 billion fell slightly short of expectations. Shares opened at $62.70, below their 50-day and 200-day moving averages.
• The bank raised its quarterly dividend from $0.46 to $0.52 per share, equivalent to a 3.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $78.58.

CWA Asset Management Group LLC raised its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 635.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,155 shares of the bank's stock after buying an additional 109,004 shares during the quarter. CWA Asset Management Group LLC's holdings in Citizens Financial Group were worth $8,044,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CFG. Cedar Mountain Advisors LLC purchased a new stake in shares of Citizens Financial Group in the first quarter valued at about $27,000. Elevation Wealth Partners LLC raised its holdings in Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock worth $30,000 after purchasing an additional 323 shares in the last quarter. Virtus Advisers LLC purchased a new position in Citizens Financial Group during the second quarter worth about $35,000. Keating Financial Advisory Services Inc. purchased a new position in Citizens Financial Group during the second quarter worth about $35,000. Finally, Align Financial LLC acquired a new stake in Citizens Financial Group in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Down 1.0%

Shares of Citizens Financial Group stock opened at $62.70 on Tuesday. The company has a 50-day moving average of $67.83 and a two-hundred day moving average of $67.13. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33. 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 stock has a market cap of $26.41 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly 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 business had revenue of $2.32 billion for the quarter, compared to analyst estimates 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 company earned $1.05 EPS. On average, research analysts anticipate that Citizens Financial Group, Inc. will post 5.29 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group's previous quarterly dividend of $0.46. Citizens Financial Group's dividend payout ratio (DPR) is 37.02%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CFG. Barclays lifted their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Cantor Fitzgerald dropped their target price on Citizens Financial Group from $84.00 to $78.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 14th. Morgan Stanley cut their target price on Citizens Financial Group from $89.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday. UBS Group reduced their price target on Citizens Financial Group from $82.00 to $77.00 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Citizens Financial Group in a report on Monday, August 3rd. One research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.58.

Insider Transactions at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of Citizens Financial Group stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares of the company's stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.67% of the company's stock.

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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