Citizens Financial Group, Inc. $CFG Stock: E. Ohman J or Asset Management AB Raises Stake

E. Ohman J or Asset Management AB lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1,395.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,818 shares of the bank’s stock after acquiring an additional 205,117 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Citizens Financial Group were worth $14,016,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in shares of Citizens Financial Group by 56,817.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 616,981 shares of the bank’s stock worth $39,339,000 after buying an additional 615,897 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in Citizens Financial Group in the third quarter worth about $1,344,000. Woodward Diversified Capital LLC lifted its stake in Citizens Financial Group by 463.9% in the third quarter. Woodward Diversified Capital LLC now owns 36,232 shares of the bank’s stock worth $2,310,000 after acquiring an additional 29,807 shares during the period. Vest Financial LLC raised its holdings in shares of Citizens Financial Group by 431.7% in the 3rd quarter. Vest Financial LLC now owns 160,380 shares of the bank’s stock valued at $10,226,000 after purchasing an additional 130,214 shares in the last quarter. Finally, PFS Partners LLC lifted its position in shares of Citizens Financial Group by 9,313.3% in the 3rd quarter. PFS Partners LLC now owns 2,824 shares of the bank’s stock worth $180,000 after purchasing an additional 2,794 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.5%

NYSE CFG opened at $65.22 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $67.30 and a two-hundred day simple moving average of $67.22. The stock has a market cap of $27.47 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm earned $1.05 EPS. On average, analysts forecast that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s payout ratio is presently 37.02%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent research reports. Citigroup reduced their price objective on shares of Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group dropped their price objective on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Evercore reiterated an “outperform” rating and issued a $78.00 target price on shares of Citizens Financial Group in a report on Thursday, October 1st. Finally, Barclays raised their price target on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.47.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.