Citizens Financial Group, Inc. $CFG Stock Position Boosted by Manchester Capital Management LLC

Manchester Capital Management LLC raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 2,516.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,497 shares of the bank’s stock after acquiring an additional 30,293 shares during the quarter. Manchester Capital Management LLC’s holdings in Citizens Financial Group were worth $2,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 55 North Private Wealth LLC lifted its position in shares of Citizens Financial Group by 4.6% during the third quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock worth $244,000 after purchasing an additional 170 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in Citizens Financial Group by 0.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock worth $3,946,000 after buying an additional 174 shares during the period. Trustmark Bank Trust Department increased its stake in Citizens Financial Group by 4.9% in the 2nd quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after buying an additional 198 shares during the period. GoalVest Advisory LLC lifted its holdings in Citizens Financial Group by 29.9% during the 3rd quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock valued at $56,000 after buying an additional 203 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Citizens Financial Group by 0.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 64,323 shares of the bank’s stock valued at $3,757,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CFG shares. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Cantor Fitzgerald dropped their price objective on Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. JPMorgan Chase & Co. reduced their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Argus set a $80.00 target price on Citizens Financial Group in a research report on Wednesday, July 29th. Finally, Morgan Stanley decreased their target price on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $65.19 on Friday. The company has a market capitalization of $27.46 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $67.11 and a 200 day moving average of $67.20.

Citizens Financial Group (NYSE:CFG) last announced its 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 firm earned $1.05 EPS. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.52 per share. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 41.85%.

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.