Blue Trust Inc. Grows Position in Citizens Financial Group, Inc. $CFG

Blue Trust Inc. grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 8.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,393 shares of the bank’s stock after buying an additional 784 shares during the period. Blue Trust Inc.’s holdings in Citizens Financial Group were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Heartland Bank & Trust Co acquired a new stake in Citizens Financial Group in the 1st quarter valued at about $398,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Citizens Financial Group by 19.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank’s stock valued at $2,248,000 after purchasing an additional 8,851 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Citizens Financial Group by 425.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank’s stock valued at $1,069,000 after purchasing an additional 21,138 shares during the last quarter. World Investment Advisors purchased a new position in Citizens Financial Group during the first quarter worth approximately $410,000. Finally, OneDigital Investment Advisors LLC boosted its stake in Citizens Financial Group by 37.9% during the first quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank’s stock worth $292,000 after buying an additional 1,957 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $49.25 on Monday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. The company has a 50 day moving average price of $51.06 and a 200 day moving average price of $44.86. The stock has a market capitalization of $21.24 billion, a P/E ratio of 14.97, a PEG ratio of 0.55 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is 51.06%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Wednesday, July 9th. Citigroup raised their price objective on shares of Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Truist Financial boosted their target price on shares of Citizens Financial Group from $52.00 to $58.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Wells Fargo & Company set a $57.00 price target on shares of Citizens Financial Group in a report on Wednesday, July 2nd. Finally, Raymond James Financial set a $62.00 price target on shares of Citizens Financial Group and gave the company a “strong-buy” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.86.

Citizens Financial Group Company 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.