Cidel Asset Management Inc. Takes Position in Citizens Financial Group, Inc. $CFG

Cidel Asset Management Inc. purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,630 shares of the bank’s stock, valued at approximately $207,000.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Citizens Financial Group by 19.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank’s stock valued at $2,248,000 after purchasing an additional 8,851 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Citizens Financial Group by 425.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank’s stock valued at $1,069,000 after purchasing an additional 21,138 shares in the last quarter. World Investment Advisors purchased a new position in shares of Citizens Financial Group in the 1st quarter valued at about $410,000. OneDigital Investment Advisors LLC increased its holdings in shares of Citizens Financial Group by 37.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank’s stock valued at $292,000 after purchasing an additional 1,957 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in Citizens Financial Group by 12.0% in the 1st quarter. IFM Investors Pty Ltd now owns 107,788 shares of the bank’s stock valued at $4,427,000 after acquiring an additional 11,521 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $50.34 on Tuesday. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $55.24. The stock has a market capitalization of $21.71 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.54 and a beta of 0.79. The firm’s 50-day moving average is $51.43 and its two-hundred day moving average is $45.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be given a $0.46 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio is 47.06%.

Analysts Set New Price Targets

A number of brokerages recently commented on CFG. Weiss Ratings reissued a “hold (c+)” rating on shares of Citizens Financial Group in a research note on Wednesday, October 8th. Citigroup increased their price objective on shares of Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Wednesday, July 9th. Cantor Fitzgerald began coverage on shares of Citizens Financial Group in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price objective on the stock. Finally, Bank of America raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $65.00 in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and an average target price of $56.57.

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.