Citizens Financial Group, Inc. $CFG Stock Acquired by Ethic Inc.

Ethic Inc. boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1,153.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 952,255 shares of the bank’s stock after purchasing an additional 876,299 shares during the quarter. Citizens Financial Group makes up 0.7% of Ethic Inc.’s investment portfolio, making the stock its 20th largest position. Ethic Inc. owned about 0.23% of Citizens Financial Group worth $60,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CFG. Elevation Wealth Partners LLC lifted its holdings in shares of Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $27,000. Carolina Wealth Advisors LLC bought a new position in shares of Citizens Financial Group in the third quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. bought a new position in shares of Citizens Financial Group in the second quarter valued at approximately $35,000. Finally, Virtus Advisers LLC purchased a new position in Citizens Financial Group during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.8%

CFG stock opened at $63.34 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’s 50 day moving average is $65.87 and its 200 day moving average is $65.64. The stock has a market cap of $26.55 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.58 and a beta of 0.74. Citizens Financial Group, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33.

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

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is currently 41.85%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen began coverage on shares of Citizens Financial Group in a report on Thursday, October 8th. They set a “buy” rating and a $75.00 target price on the stock. Robert W. Baird raised their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Keefe, Bruyette & Woods upped their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, UBS Group lowered 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. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $76.79.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions.

Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.

Citizens traces its history to High Street Bank, founded in Providence in 1828.