Citizens Financial Group, Inc. $CFG Stock Bought by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1,104.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 233,230 shares of the bank’s stock after buying an additional 213,862 shares during the period. Ritholtz Wealth Management’s holdings in Citizens Financial Group were worth $14,871,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CFG. Carolina Wealth Advisors LLC purchased a new stake in shares of Citizens Financial Group in the 3rd quarter worth $29,000. Elevation Wealth Partners LLC grew its position in shares of Citizens Financial Group by 319.8% during the 2nd 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. Virtus Advisers LLC bought a new position in shares of Citizens Financial Group during the 2nd quarter worth $35,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Citizens Financial Group during the second quarter valued at $35,000. Finally, Align Financial LLC purchased a new position in shares of Citizens Financial Group during the third quarter valued at $35,000. 94.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird lifted their price objective on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Morgan Stanley dropped their target price on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Cantor Fitzgerald cut their target price on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. UBS Group cut their target price on shares of 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. Finally, Bank of America reduced their price target on shares of Citizens Financial Group from $82.00 to $76.00 in a report on Thursday, October 8th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.79.

Citizens Financial Group Stock Up 0.9%

Shares of NYSE CFG opened at $65.41 on Thursday. 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 stock has a market capitalization of $27.42 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. The stock’s fifty day simple moving average is $65.65 and its two-hundred day simple moving average is $65.67. 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 announced its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $1.05 EPS. As a group, analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently announced 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 yield of 3.2%. This is a boost 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 41.85%.

Citizens Financial Group 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.