Citizens Financial Group, Inc. $CFG Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 56,817.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 616,981 shares of the bank’s stock after purchasing an additional 615,897 shares during the quarter. Citizens Financial Group makes up approximately 0.9% of SBI Securities Co. Ltd.’s holdings, making the stock its 21st biggest holding. SBI Securities Co. Ltd.’s holdings in Citizens Financial Group were worth $39,339,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Citizens Financial Group during the 2nd quarter valued at about $3,415,046,000. Robeco Institutional Asset Management B.V. grew its stake in Citizens Financial Group by 7,979.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after buying an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Citizens Financial Group by 1,252.4% during the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after buying an additional 8,523,938 shares during the last quarter. Bank of America Corp DE bought a new stake in Citizens Financial Group during the second quarter worth about $223,386,000. Finally, Legal & General Group Plc acquired a new stake in shares of Citizens Financial Group during the second quarter worth approximately $207,234,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Up 0.5%

Shares of CFG opened at $65.22 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33. The firm has a market capitalization of $27.47 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. The stock’s fifty day simple moving average is $67.30 and its 200-day simple moving average is $67.22.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the business earned $1.05 earnings per share. As a group, research analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business 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 $0.52 dividend. This is a boost 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 currently 37.02%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CFG shares. Stephens cut their target price on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. TD Cowen assumed coverage on Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 price target on the stock. Argus set a $80.00 price target on Citizens Financial Group in a report on Wednesday, July 29th. Finally, DA Davidson set a $82.00 price objective on Citizens Financial Group in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $77.47.

Citizens Financial Group Profile

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.