Citizens Financial Group, Inc. $CFG Holdings Boosted by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 353.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 472,764 shares of the bank’s stock after purchasing an additional 368,538 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.11% of Citizens Financial Group worth $21,005,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CFG. Trust Co. of Vermont grew its position in Citizens Financial Group by 177.5% in 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 in the last quarter. Investors Research Corp increased its stake in shares of 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 during the period. GoalVest Advisory LLC raised its holdings in Citizens Financial Group by 16,900.0% during the second quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock worth $30,000 after purchasing an additional 676 shares in the last quarter. REAP Financial Group LLC boosted its stake in Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after purchasing an additional 309 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Citizens Financial Group by 143.4% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after purchasing an additional 634 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $65.00 in a research report on Thursday, October 9th. Truist Financial dropped their price target on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Citizens Financial Group in a research note on Tuesday. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $53.00 to $71.00 in a report on Monday, September 29th. Finally, Evercore ISI boosted their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Buy” and an average price target of $56.57.

Citizens Financial Group Trading Down 0.3%

Shares of NYSE CFG opened at $54.03 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $55.24. The business has a 50-day moving average price of $51.85 and a two-hundred day moving average price of $48.16. The firm has a market capitalization of $23.21 billion, a PE ratio of 15.14, a PEG ratio of 0.58 and a beta of 0.82.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (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 business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, October 29th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s payout ratio is currently 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.