Citizens Financial Group, Inc. $CFG Stock Purchased by Keybank National Association OH

Key Points

• Keybank National Association OH increased its Citizens Financial Group stake by 3,657.3% in the third quarter, ending the period with 1.46 million shares worth about $93.1 million. Institutional investors and hedge funds own 94.9% of the stock.
• Analysts rate CFG a “Moderate Buy” overall, with an average price target of $76.79; 17 analysts rate it Buy and four rate it Hold.
• Citizens reported quarterly EPS of $1.41, slightly above estimates, while revenue missed expectations. The bank also raised its quarterly dividend from $0.46 to $0.52 per share, equivalent to a 3.2% annualized yield.

Keybank National Association OH boosted its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 3,657.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,460,117 shares of the bank's stock after acquiring an additional 1,421,256 shares during the period. Keybank National Association OH owned about 0.35% of Citizens Financial Group worth $93,097,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group during the second quarter worth $3,415,046,000. Robeco Institutional Asset Management B.V. grew its position in shares of Citizens Financial Group by 7,979.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank's stock valued at $775,663,000 after purchasing an additional 12,014,785 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Citizens Financial Group by 1,252.4% in the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank's stock valued at $586,883,000 after purchasing an additional 8,523,938 shares during the period. Commonwealth Equity Services LLC increased its stake in Citizens Financial Group by 4,682.2% in the third quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank's stock valued at $209,509,000 after purchasing an additional 3,217,195 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Citizens Financial Group in the second quarter valued at $223,386,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CFG has been the topic of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Citizens Financial Group in a research report on Friday, October 30th. Stephens lowered their price target on Citizens Financial Group from $70.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, October 20th. Citigroup cut their price objective on shares of Citizens Financial Group from $84.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday, October 20th. Barclays raised their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, Argus lowered their target price on shares of Citizens Financial Group from $80.00 to $78.00 in a report on Monday, October 19th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $76.79.

Citizens Financial Group Price Performance

CFG stock opened at $64.91 on Wednesday. The company has a market cap of $27.21 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. 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 50-day moving average price of $65.70 and a two-hundred day moving average price of $65.65. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $1.05 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.52 per share. This is a boost 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 yield of 3.2%. Citizens Financial Group's dividend payout ratio is currently 41.85%.

Citizens Financial Group Profile

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.

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