Citizens Financial Group, Inc. $CFG Stock Position Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 229,051 shares of the bank’s stock after selling 208 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Citizens Financial Group were worth $10,250,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of CFG. AustralianSuper Pty Ltd bought a new position in Citizens Financial Group during the first quarter valued at about $108,864,000. Assetmark Inc. boosted its stake in Citizens Financial Group by 11,167.0% during the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock valued at $55,209,000 after buying an additional 1,335,577 shares in the last quarter. AQR Capital Management LLC boosted 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 buying an additional 1,180,390 shares in the last quarter. Nordea Investment Management AB boosted its stake in Citizens Financial Group by 20.7% during the second quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock valued at $287,932,000 after buying an additional 1,098,684 shares in the last quarter. Finally, Swedbank AB boosted its stake in Citizens Financial Group by 291.5% during the second quarter. Swedbank AB now owns 1,352,458 shares of the bank’s stock valued at $60,522,000 after buying an additional 1,006,999 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CFG. Barclays raised their target price on Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Wells Fargo & Company set a $57.00 target price on Citizens Financial Group in a report on Wednesday, July 2nd. Stephens reaffirmed an “overweight” rating and set a $60.00 target price on shares of Citizens Financial Group in a report on Thursday. Finally, Citigroup upped their target price on Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.57.

Citizens Financial Group Trading Up 1.8%

Shares of NYSE CFG opened at $49.26 on Monday. The business has a fifty day simple moving average of $51.37 and a 200-day simple moving average of $45.22. The company has a market cap of $21.25 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.54 and a beta of 0.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $55.24.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $1.84 annualized dividend and a yield of 3.7%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio (DPR) is currently 47.06%.

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.