Vanguard Personalized Indexing Management LLC Purchases 7,003 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Citizens Financial Group by 11.2%, acquiring an additional 7,003 shares during the second quarter, bringing its total to 69,778 shares valued at approximately $3.12 million.
• Citizens Financial Group posted an earnings per share of $1.05 for the last quarter, exceeding analysts' expectations of $1.03, and reported a year-over-year revenue increase of 11.4%.
• The company announced a quarterly dividend increase from $0.42 to $0.46 per share, which represents an annualized yield of 3.6%.

Vanguard Personalized Indexing Management LLC raised its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,778 shares of the bank's stock after acquiring an additional 7,003 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Citizens Financial Group were worth $3,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Grove Bank & Trust boosted its position in shares of Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after purchasing an additional 334 shares in the last quarter. Investors Research Corp raised its stake in Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank's stock valued at $29,000 after buying an additional 500 shares during the last quarter. Trust Co. of Vermont boosted its holdings in Citizens Financial Group by 177.5% in the second quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock worth $29,000 after acquiring an additional 410 shares in the last quarter. REAP Financial Group LLC grew its stake in shares of Citizens Financial Group by 72.4% during the second quarter. REAP Financial Group LLC now owns 736 shares of the bank's stock worth $33,000 after acquiring an additional 309 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank's stock valued at $44,000 after acquiring an additional 634 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.2%

Shares of NYSE:CFG opened at $51.67 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $55.24. The business has a 50 day moving average of $51.29 and a two-hundred day moving average of $45.02. The company has a market capitalization of $22.29 billion, a PE ratio of 15.71, a PEG ratio of 0.58 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the firm earned $0.79 EPS. The business's quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This is a positive change from Citizens Financial Group's previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.6%. Citizens Financial Group's dividend payout ratio is presently 51.06%.

Analyst Ratings Changes

CFG has been the topic of several research analyst reports. Cantor Fitzgerald assumed coverage on shares of Citizens Financial Group in a research report on Wednesday, September 10th. They set an "overweight" rating and a $61.00 target price on the stock. Truist Financial boosted their price objective on shares of Citizens Financial Group from $52.00 to $58.00 and gave the company a "hold" rating in a report on Friday, October 3rd. Wall Street Zen upgraded Citizens Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Wells Fargo & Company set a $57.00 price target on Citizens Financial Group in a research note on Wednesday, July 2nd. Finally, DA Davidson increased their price objective on Citizens Financial Group from $49.00 to $55.00 and gave the company a "buy" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of "Moderate Buy" and an average price target of $55.86.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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