Crossmark Global Holdings Inc. Has $2.51 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Crossmark Global Holdings boosted its stake in Citizens Financial Group by 112.4% in the third quarter, adding 24,934 shares to hold 47,113 shares valued at about $2.51 million.
• Institutional ownership is extremely high at 94.90%, with several other funds (e.g., Woodline Partners, Sivia Capital) also increasing their positions recently.
• Analyst sentiment is broadly positive—19 Buys vs. 2 Holds with a consensus target of $69.73—and CFG recently beat EPS estimates, pays a $0.46 quarterly dividend (≈3.2% yield), and has seen multiple price-target upgrades.

Crossmark Global Holdings Inc. boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 112.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,113 shares of the bank's stock after acquiring an additional 24,934 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Citizens Financial Group were worth $2,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFG. NewEdge Advisors LLC grew its stake in shares of Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock worth $472,000 after purchasing an additional 274 shares during the last quarter. Empowered Funds LLC raised its position in Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock worth $362,000 after purchasing an additional 554 shares during the last quarter. Woodline Partners LP raised its position in Citizens Financial Group by 39.5% during the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock worth $1,513,000 after purchasing an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Citizens Financial Group by 93.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock worth $439,000 after buying an additional 4,739 shares during the period. Finally, Huntington National Bank lifted its holdings in Citizens Financial Group by 13.9% during the 2nd quarter. Huntington National Bank now owns 2,968 shares of the bank's stock worth $133,000 after buying an additional 362 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CFG shares. Bank of America increased their price target on Citizens Financial Group from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Robert W. Baird reaffirmed a "neutral" rating and issued a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, December 11th. Truist Financial upped their target price on Citizens Financial Group from $63.00 to $71.00 and gave the company a "hold" rating in a report on Monday, January 26th. Morgan Stanley increased their target price on shares of Citizens Financial Group from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Finally, DA Davidson raised their price target on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Nineteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.73.

Citizens Financial Group Stock Performance

CFG stock opened at $58.07 on Friday. The stock has a 50-day moving average price of $62.53 and a 200-day moving average price of $56.38. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $68.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.68 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.47 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 annualized dividend and a yield of 3.2%. Citizens Financial Group's payout ratio is 47.55%.

Citizens Financial Group Profile

Citizens Financial Group, Inc NYSE: CFG is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.

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