Citizens Financial Group, Inc. $CFG Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 316.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 625,400 shares of the bank’s stock after purchasing an additional 475,390 shares during the quarter. Korea Investment CORP’s holdings in Citizens Financial Group were worth $33,246,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Citizens Financial Group by 891.5% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after purchasing an additional 526 shares during the last quarter. Capital A Wealth Management LLC increased its position in Citizens Financial Group by 3,970.0% during the second quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock worth $36,000 after buying an additional 794 shares during the period. State of Wyoming purchased a new stake in Citizens Financial Group in the second quarter valued at approximately $39,000. Kestra Investment Management LLC boosted its holdings in shares of Citizens Financial Group by 2,703.0% in the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock valued at $41,000 after acquiring an additional 892 shares during the period. Finally, SJS Investment Consulting Inc. grew its position in shares of Citizens Financial Group by 3,569.2% during the third quarter. SJS Investment Consulting Inc. now owns 954 shares of the bank’s stock worth $51,000 after acquiring an additional 928 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CFG. Royal Bank Of Canada increased their price target on shares of Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Bank of America increased their target price on shares of Citizens Financial Group from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 21st. DA Davidson increased their price objective on Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Twenty investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.95.

Citizens Financial Group Price Performance

Shares of CFG opened at $58.19 on Tuesday. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $68.79. The stock’s 50 day moving average is $62.51 and its two-hundred day moving average is $56.50. The firm has a market capitalization of $24.73 billion, a PE ratio of 15.04, a P/E/G ratio of 0.47 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is currently 47.55%.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.