Vanguard Group Inc. Boosts Stock Position in Citizens Financial Group, Inc. $CFG

Vanguard Group Inc. grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,548,977 shares of the bank’s stock after buying an additional 209,467 shares during the period. Vanguard Group Inc. owned 11.95% of Citizens Financial Group worth $2,306,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CFG. Janney Montgomery Scott LLC raised its holdings in shares of Citizens Financial Group by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock valued at $1,582,000 after buying an additional 512 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Citizens Financial Group by 5.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after buying an additional 42,971 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Citizens Financial Group in the 1st quarter valued at about $3,177,000. Nordea Investment Management AB increased its position in Citizens Financial Group by 20.7% in the 2nd quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock valued at $287,932,000 after acquiring an additional 1,098,684 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in Citizens Financial Group by 78.7% during the 2nd quarter. Pinnacle Associates Ltd. now owns 19,735 shares of the bank’s stock valued at $883,000 after acquiring an additional 8,693 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup lifted their target price on Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Citizens Financial Group in a research note on Wednesday. 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 report on Tuesday, September 30th. Truist Financial dropped their price objective on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Finally, 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 research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $56.57.

Citizens Financial Group Stock Performance

Shares of CFG opened at $52.31 on Friday. The company has a 50-day simple moving average of $51.72 and a 200-day simple moving average of $47.78. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $22.47 billion, a PE ratio of 14.65, a P/E/G ratio of 0.54 and a beta of 0.82. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $55.24.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were paid a dividend of $0.46 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. Citizens Financial Group’s dividend payout ratio is presently 51.54%.

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.