Forum Financial Management LP Increases Position in Citizens Financial Group, Inc. $CFG

Forum Financial Management LP lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,150 shares of the bank’s stock after purchasing an additional 1,008 shares during the period. Forum Financial Management LP’s holdings in Citizens Financial Group were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investors Research Corp grew its stake in Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Trust Co. of Vermont grew its stake in Citizens Financial Group by 177.5% during the second quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after acquiring an additional 410 shares in the last quarter. REAP Financial Group LLC grew its stake in Citizens Financial Group by 72.4% during the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after acquiring an additional 309 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after acquiring an additional 634 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Citizens Financial Group during the first quarter valued at $46,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFG has been the subject of several research analyst reports. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a research note on Wednesday, July 2nd. Barclays raised their target price on shares of Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 16th. Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. DA Davidson reissued a “buy” rating and issued a $59.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. Finally, Truist Financial dropped their price objective on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.57.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $52.22 on Friday. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $55.24. The stock has a market capitalization of $22.52 billion, a P/E ratio of 14.63, a PEG ratio of 0.54 and a beta of 0.79. The firm has a fifty day simple moving average of $51.64 and a two-hundred day simple moving average of $45.64. 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 (NYSE:CFG) last released its earnings results 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 analyst estimates of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.79 EPS. On average, analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th will be issued a $0.46 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, October 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. Citizens Financial Group’s dividend payout ratio (DPR) is 51.54%.

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.