Citizens Financial Group, Inc. $CFG Stock Position Increased by CENTRAL TRUST Co

CENTRAL TRUST Co raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 31,274.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 293,040 shares of the bank’s stock after acquiring an additional 292,106 shares during the period. CENTRAL TRUST Co owned approximately 0.07% of Citizens Financial Group worth $18,684,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group in the second quarter worth $3,415,046,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Citizens Financial Group by 7,979.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after purchasing an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Citizens Financial Group by 1,252.4% during the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after purchasing an additional 8,523,938 shares during the period. Dimensional Fund Advisors LP lifted its position in Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock valued at $282,927,000 after purchasing an additional 28,602 shares during the period. Finally, Fifth Third Bancorp lifted its position in Citizens Financial Group by 4,720.9% during the third quarter. Fifth Third Bancorp now owns 4,672,049 shares of the bank’s stock valued at $297,890,000 after purchasing an additional 4,575,137 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFG has been the topic of several analyst reports. Bank of America cut their price target on Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Argus reduced their price objective on Citizens Financial Group from $80.00 to $78.00 in a research note on Monday, October 19th. Cantor Fitzgerald decreased their price objective on Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Truist Financial lowered their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Finally, Morgan Stanley dropped their target price on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

Citizens Financial Group Stock Up 0.9%

Citizens Financial Group stock opened at $65.41 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. 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 business has a 50 day simple moving average of $65.65 and a 200-day simple moving average of $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 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. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm posted $1.05 EPS. On average, analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS 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. Shareholders of record on Friday, October 30th will be given a dividend of $0.52 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 30th. 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. 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.