SVB Wealth LLC Grows Position in Citizens Financial Group, Inc. (NYSE:CFG)

SVB Wealth LLC lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 14.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,548 shares of the bank’s stock after buying an additional 2,662 shares during the quarter. SVB Wealth LLC’s holdings in Citizens Financial Group were worth $714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFG. Capital World Investors lifted its holdings in shares of Citizens Financial Group by 76.0% in the first quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock worth $861,383,000 after buying an additional 8,203,831 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Citizens Financial Group by 217.5% in the third quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock worth $213,821,000 after buying an additional 5,465,824 shares in the last quarter. Norges Bank purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $192,928,000. AQR Capital Management LLC lifted its holdings in shares of Citizens Financial Group by 1,213.2% in the third quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock worth $100,395,000 after buying an additional 3,460,792 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Citizens Financial Group by 18.0% in the fourth quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock worth $720,392,000 after buying an additional 2,785,751 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFG has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Royal Bank of Canada upped their price objective on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Wedbush decreased their price objective on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Citigroup upped their price objective on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.29.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the sale, the insider now owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Stock Up 3.3 %

Shares of Citizens Financial Group stock opened at $33.99 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 0.87. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $36.38. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38. The company’s 50 day moving average price is $33.33 and its 200-day moving average price is $30.63.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. Equities research analysts forecast that Citizens Financial Group, Inc. will post 3.25 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is 60.87%.

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.