Citizens Financial Group, Inc. $CFG Shares Newly Acquired by NBH Bank

NBH Bank acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,833 shares of the bank’s stock, valued at approximately $946,000.

A number of other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $223,386,000. Tidal Investments LLC increased its holdings in shares of Citizens Financial Group by 12.4% in the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after purchasing an additional 16,000 shares in the last quarter. Freestone Grove Partners LP bought a new position in Citizens Financial Group in the 2nd quarter worth approximately $95,642,000. Citizens Financial Group Inc. RI raised its position in Citizens Financial Group by 145.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 773,677 shares of the bank’s stock worth $49,330,000 after purchasing an additional 458,698 shares during the last quarter. Finally, Sterling Investment Management LLC bought a new position in Citizens Financial Group in the 3rd quarter worth approximately $2,164,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Price Performance

Shares of CFG opened at $65.41 on Thursday. The stock has a market cap of $27.42 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.59 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. The stock’s 50-day moving average price is $65.65 and its two-hundred day moving average price is $65.67. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last announced its quarterly 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. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period in the prior year, the business posted $1.05 EPS. On average, equities analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.52 per share. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 41.85%.

Analyst Upgrades and Downgrades

CFG has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Cantor Fitzgerald lowered their target price on Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Morgan Stanley dropped their target price on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Bank of America dropped their target price on Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Finally, Argus cut their price target on Citizens Financial Group from $80.00 to $78.00 in a research note on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.79.

About Citizens Financial Group

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.