Empirical Finance LLC Boosts Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Empirical Finance LLC raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,076 shares of the bank’s stock after purchasing an additional 330 shares during the period. Empirical Finance LLC’s holdings in Citizens Financial Group were worth $660,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Canada Pension Plan Investment Board grew its holdings in Citizens Financial Group by 101.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after buying an additional 383,947 shares during the last quarter. Versor Investments LP purchased a new stake in Citizens Financial Group during the 3rd quarter worth about $1,910,000. UniSuper Management Pty Ltd raised its stake in Citizens Financial Group by 1,045.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank’s stock valued at $932,000 after purchasing an additional 23,449 shares during the last quarter. CWM LLC lifted its holdings in Citizens Financial Group by 77.1% in the 2nd quarter. CWM LLC now owns 40,699 shares of the bank’s stock valued at $1,466,000 after purchasing an additional 17,718 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $5,009,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CFG shares. Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. DA Davidson lifted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler increased their target price on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Evercore ISI lowered their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus price target of $43.80.

Citizens Financial Group Stock Up 0.4 %

Shares of NYSE CFG opened at $46.78 on Monday. The stock has a fifty day moving average price of $42.19 and a 200 day moving average price of $39.45. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a 12-month low of $26.13 and a 12-month high of $48.35. The company has a market cap of $20.62 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.78 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.59%. Citizens Financial Group’s payout ratio is currently 66.14%.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.