Fifth Third Bancorp Boosts Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Fifth Third Bancorp increased its stake in Citizens Financial Group by 225% in the first quarter, bringing its holdings to 97,613 shares worth about $5.85 million.
• Citizens Financial Group reported better-than-expected quarterly results, with EPS of $1.30 versus $1.25 expected and revenue up 12.1% year over year, helping drive bullish sentiment on the stock.
• Analysts remain constructive on CFG, with several firms raising price targets and the stock currently carrying a Moderate Buy consensus rating; the company also announced a quarterly dividend of $0.46 per share.

Fifth Third Bancorp boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 225.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,613 shares of the bank's stock after acquiring an additional 67,578 shares during the period. Fifth Third Bancorp's holdings in Citizens Financial Group were worth $5,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CFG. Norges Bank purchased a new stake in Citizens Financial Group in the 4th quarter valued at approximately $355,909,000. AQR Capital Management LLC increased its position in Citizens Financial Group by 56.9% during the fourth quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock worth $451,075,000 after buying an additional 2,799,050 shares in the last quarter. Victory Capital Management Inc. increased its position in Citizens Financial Group by 89.4% during the fourth quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank's stock worth $276,372,000 after buying an additional 2,232,806 shares in the last quarter. Amundi raised its holdings in shares of Citizens Financial Group by 136.4% in the fourth quarter. Amundi now owns 3,513,388 shares of the bank's stock worth $205,217,000 after acquiring an additional 2,027,255 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Citizens Financial Group by 32.3% in the fourth quarter. Capital International Investors now owns 8,000,750 shares of the bank's stock worth $467,389,000 after acquiring an additional 1,953,372 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. DA Davidson upped their price objective on Citizens Financial Group from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Royal Bank Of Canada lifted their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Citizens Financial Group from $68.50 to $76.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Cantor Fitzgerald upped their target price on shares of Citizens Financial Group from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.10.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.67% of the company's stock.

Citizens Financial Group Trading Up 4.4%

Shares of Citizens Financial Group stock opened at $74.28 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $74.70. The business's fifty day moving average is $66.25 and its two-hundred day moving average is $63.53. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The firm has a market cap of $31.41 billion, a PE ratio of 17.56, a P/E/G ratio of 0.59 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts anticipate that Citizens Financial Group, Inc. will post 5.22 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 30th. Citizens Financial Group's dividend payout ratio (DPR) is presently 43.50%.

Key Stories Impacting Citizens Financial Group

Here are the key news stories impacting Citizens Financial Group this week:

• Positive Sentiment: Citizens Financial beat Q2 earnings estimates with EPS of $1.30 versus $1.25 expected, while revenue rose 12.1% year over year and net income climbed 35%, signaling solid operating momentum. Article title
• Positive Sentiment: Management’s raised net interest margin outlook added to optimism, suggesting profitability could improve further in coming quarters. Article title
• Positive Sentiment: Higher net interest income and fee income were key drivers of the profit jump, indicating stronger core banking revenue and healthier business trends. Article title
• Positive Sentiment: Citigroup? No—Cantor Fitzgerald raised its price target on CFG to $80 and reiterated an overweight rating, reinforcing a bullish analyst view after the results. Article title
• Neutral Sentiment: Unusual call option activity ahead of the earnings release suggests traders were positioning for upside, but it does not by itself change the company’s fundamentals.

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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