Citizens Financial Group, Inc. $CFG Stake Raised by Vest Financial LLC

Vest Financial LLC grew its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 431.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,380 shares of the bank’s stock after buying an additional 130,214 shares during the period. Vest Financial LLC’s holdings in Citizens Financial Group were worth $10,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $27,000. Elevation Wealth Partners LLC grew its stake in Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares in the last quarter. Virtus Advisers LLC purchased a new position in Citizens Financial Group during the second quarter valued at approximately $35,000. Keating Financial Advisory Services Inc. bought a new stake in Citizens Financial Group during the 2nd quarter worth approximately $35,000. Finally, Align Financial LLC bought a new stake in Citizens Financial Group during the 3rd quarter worth approximately $35,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG opened at $65.22 on Friday. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33. 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 company has a market cap 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 has a 50-day moving average price of $67.30 and a 200-day moving average price of $67.22.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations 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 prior year, the business earned $1.05 earnings per share. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 5.30 earnings per share 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 given a dividend of $0.52 per share. The ex-dividend date is Friday, October 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 37.02%.

Analysts Set New Price Targets

CFG has been the topic of several recent analyst reports. Royal Bank Of Canada lowered their target price on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday. Robert W. Baird boosted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Morgan Stanley reduced their price target on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Finally, Truist Financial lowered their price objective on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.47.

About Citizens Financial Group

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.