PDS Planning Inc Invests $224,000 in Citizens Financial Group, Inc. $CFG

PDS Planning Inc acquired a new position in Citizens Financial Group, Inc. (NYSE:CFGFree Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,996 shares of the bank’s stock, valued at approximately $224,000.

Several other institutional investors also recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. grew its stake in Citizens Financial Group by 7.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 10,380,605 shares of the bank’s stock valued at $425,293,000 after acquiring an additional 697,494 shares in the last quarter. AQR Capital Management LLC grew its stake in Citizens Financial Group by 19.1% during the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock valued at $294,007,000 after acquiring an additional 1,180,390 shares in the last quarter. Royal Bank of Canada grew its stake in Citizens Financial Group by 8.9% during the first quarter. Royal Bank of Canada now owns 6,801,856 shares of the bank’s stock valued at $278,672,000 after acquiring an additional 554,618 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Citizens Financial Group by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,730,786 shares of the bank’s stock valued at $193,782,000 after acquiring an additional 41,704 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Citizens Financial Group by 1.9% during the first quarter. Northern Trust Corp now owns 4,703,836 shares of the bank’s stock valued at $192,716,000 after acquiring an additional 86,237 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

CFG stock opened at $49.25 on Monday. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $55.24. The business has a 50-day moving average price of $51.06 and a 200 day moving average price of $44.86. The company has a market capitalization of $21.24 billion, a P/E ratio of 14.97, a PEG ratio of 0.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFGGet Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. Citizens Financial Group’s revenue was up 3.8% on a year-over-year basis. As a group, equities research 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 51.06%.

Analyst Ratings Changes

Several research firms recently weighed in on CFG. Raymond James Financial set a $62.00 target price on shares of Citizens Financial Group and gave the company a “strong-buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Wednesday, July 9th. Wells Fargo & Company set a $57.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. DA Davidson increased their price objective on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Citizens Financial Group in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.86.

Read Our Latest Report on CFG

Citizens Financial Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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