Vinva Investment Management Ltd Increases Stake in Citizens Financial Group, Inc. $CFG

Key Points

• Vinva Investment Management increased its stake in Citizens Financial Group by 19.2% in Q3 to 563,386 shares (about $30.23M), with institutional investors now owning roughly 94.9% of the stock.
• Citizens reported quarterly EPS of $1.13, beating estimates by $0.02, with revenue of $2.16 billion up 8.6% year-over-year; analysts project full-year EPS of about 3.92.
• The bank pays a $0.46 quarterly dividend (annualized $1.84) for a ~3.2% yield and ~47.6% payout ratio, and analysts have been raising targets—consensus is a Moderate Buy with an average price target of $69.73.

Vinva Investment Management Ltd increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 19.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 563,386 shares of the bank's stock after acquiring an additional 90,622 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.13% of Citizens Financial Group worth $30,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its position in shares of Citizens Financial Group by 2.4% in the 1st 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 period. Empowered Funds LLC increased its holdings in Citizens Financial Group by 6.7% during the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock valued at $362,000 after buying an additional 554 shares during the period. Woodline Partners LP raised its stake in Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock worth $1,513,000 after buying an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Citizens Financial Group by 93.4% in the second 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 in the last quarter. Finally, Huntington National Bank lifted its holdings in Citizens Financial Group by 13.9% during the second 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.

Citizens Financial Group Price Performance

NYSE CFG opened at $58.07 on Friday. The firm's fifty day simple moving average is $62.53 and its two-hundred day simple moving average is $56.38. The firm has a market capitalization of $24.68 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.47 and a beta of 0.70. 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 issued its quarterly earnings data 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal 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 was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.2%. Citizens Financial Group's dividend payout ratio (DPR) is 47.55%.

Analysts Set New Price Targets

Several analysts have issued reports on CFG shares. Royal Bank Of Canada increased their target price on Citizens Financial Group from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, January 22nd. Morgan Stanley upped their price objective on Citizens Financial Group from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Truist Financial raised their price objective on Citizens Financial Group from $63.00 to $71.00 and gave the company a "hold" rating in a research report on Monday, January 26th. Argus lifted their target price on Citizens Financial Group from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $75.00 target price on shares of Citizens Financial Group in a report on Tuesday, March 3rd. Nineteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.73.

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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