Los Angeles Capital Management LLC Makes New Investment in Citizens Financial Group, Inc. $CFG

Los Angeles Capital Management LLC purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 220,995 shares of the bank’s stock, valued at approximately $9,890,000.

Other hedge funds have also modified their holdings of the company. Investors Research Corp boosted its position 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 purchasing an additional 500 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after buying an additional 410 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Citizens Financial Group by 16,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after buying an additional 676 shares during the last quarter. REAP Financial Group LLC grew its stake in shares of Citizens Financial Group by 72.4% in the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after buying an additional 309 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Citizens Financial Group by 143.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after buying an additional 634 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Shares of CFG opened at $51.68 on Monday. The company has a market capitalization of $22.19 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $55.24. The company’s fifty day moving average price is $51.79 and its 200 day moving average price is $46.94.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. As a group, analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio is currently 51.54%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports 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. Weiss Ratings upgraded shares of Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Evercore ISI lifted their price objective on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Barclays upped their price objective on shares of Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 16th. Finally, Stephens restated an “overweight” rating and set a $60.00 target price on shares of Citizens Financial Group in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Citizens Financial Group currently has an average rating of “Buy” and a consensus price target of $56.57.

Citizens Financial Group Company Profile

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.