Citizens Financial Group, Inc. $CFG Shares Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 506.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,487 shares of the bank’s stock after buying an additional 167,412 shares during the quarter. Phoenix Financial Ltd.’s holdings in Citizens Financial Group were worth $12,783,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. 55 North Private Wealth LLC boosted its position in shares of Citizens Financial Group by 4.6% during the 3rd quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock valued at $244,000 after acquiring an additional 170 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in Citizens Financial Group by 0.3% in the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after acquiring an additional 174 shares during the period. Profund Advisors LLC increased its stake in Citizens Financial Group by 3.4% in the third quarter. Profund Advisors LLC now owns 5,263 shares of the bank’s stock valued at $336,000 after acquiring an additional 174 shares during the period. Parallel Advisors LLC raised its position in Citizens Financial Group by 2.6% in the third quarter. Parallel Advisors LLC now owns 7,111 shares of the bank’s stock worth $453,000 after purchasing an additional 181 shares in the last quarter. Finally, Trustmark Bank Trust Department raised its position in Citizens Financial Group by 4.9% in the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stephens decreased their price objective on Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. 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 note on Monday, October 5th. Argus dropped their target price on Citizens Financial Group from $80.00 to $78.00 in a report on Monday, October 19th. Truist Financial dropped their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Finally, The Goldman Sachs Group cut their target price on Citizens Financial Group from $81.00 to $79.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.79.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded up $0.31 during mid-day trading on Friday, reaching $65.17. 2,251,929 shares of the stock were exchanged, compared to its average volume of 4,773,208. Citizens Financial Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $75.33. The company has a market cap of $27.32 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. The firm has a 50-day simple moving average of $65.44 and a 200 day simple moving average of $65.69. 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 released 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 firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period in the previous year, the business earned $1.05 earnings per share. On average, 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 company also recently announced a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Friday, October 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 41.85%.

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.