Victory Capital Management Inc. Has $133.73 Million Stock Position in Citizens Financial Group, Inc. $CFG

Key Points

• Victory Capital increased its stake in Citizens Financial by 9.7% in Q3, owning 2,498,786 shares valued at about $133.73 million, roughly 0.58% of the company.
• Analysts have been raising targets and ratings recently — notable upgrades pushed targets into the low $70s, and the consensus is a “Moderate Buy” with an average target of $69.73 (19 Buys, 2 Holds).
• Citizens beat quarterly EPS estimates ($1.13 vs. $1.11) with revenue up 8.6% year-over-year, and it pays a quarterly dividend of $0.46 (annualized $1.84), a yield of about 3.1%.

Victory Capital Management Inc. grew its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,498,786 shares of the bank's stock after purchasing an additional 219,999 shares during the quarter. Victory Capital Management Inc. owned about 0.58% of Citizens Financial Group worth $133,732,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of Citizens Financial Group by 891.5% during the third quarter. True Wealth Design LLC now owns 585 shares of the bank's stock valued at $31,000 after purchasing an additional 526 shares in the last quarter. Capital A Wealth Management LLC increased its position in Citizens Financial Group by 3,970.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 814 shares of the bank's stock valued at $36,000 after acquiring an additional 794 shares during the period. State of Wyoming acquired a new position in shares of Citizens Financial Group during the second quarter worth $39,000. Kestra Investment Management LLC lifted its holdings in shares of Citizens Financial Group by 2,703.0% during the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank's stock worth $41,000 after purchasing an additional 892 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Citizens Financial Group in the second quarter worth $45,000. Institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

CFG has been the subject of several analyst reports. Citigroup raised their target price on Citizens Financial Group from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Robert W. Baird restated a "neutral" rating and set a $60.00 price objective on shares of Citizens Financial Group in a research report on Thursday, December 11th. Weiss Ratings upgraded Citizens Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Truist Financial increased their target price on shares of Citizens Financial Group from $63.00 to $71.00 and gave the company a "hold" rating in a research report on Monday, January 26th. Finally, DA Davidson boosted their price target on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a "buy" rating in a research 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 MarketBeat.com, Citizens Financial Group has an average rating of "Moderate Buy" and an average target price of $69.73.

Citizens Financial Group Stock Performance

NYSE CFG opened at $60.17 on Thursday. The company has a market cap of $25.57 billion, a P/E ratio of 15.55, a PEG ratio of 0.49 and a beta of 0.70. The company has a fifty day simple moving average of $62.57 and a 200 day simple moving average of $56.23. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $68.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.85 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group's dividend payout ratio is presently 47.55%.

About Citizens Financial Group

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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