Transcend Capital Advisors LLC Invests $291,000 in Citizens Financial Group, Inc. $CFG

Transcend Capital Advisors LLC bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, Holdings Channel reports. The fund bought 6,496 shares of the bank’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in shares of Citizens Financial Group by 425.7% during 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 acquiring an additional 21,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Citizens Financial Group by 17.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,414 shares of the bank’s stock worth $1,949,000 after acquiring an additional 7,302 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Citizens Financial Group by 0.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 352,640 shares of the bank’s stock valued at $14,314,000 after purchasing an additional 1,110 shares during the last quarter. Amalgamated Bank grew its stake in Citizens Financial Group by 1.4% during the 1st quarter. Amalgamated Bank now owns 85,948 shares of the bank’s stock valued at $3,521,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in Citizens Financial Group by 8.6% during the 1st quarter. Mather Group LLC. now owns 9,378 shares of the bank’s stock worth $384,000 after purchasing an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.3%

Shares of NYSE:CFG opened at $50.61 on Friday. The company’s fifty day moving average is $51.84 and its two-hundred day moving average is $46.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $55.24. The stock has a market capitalization of $21.83 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business posted $0.79 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, October 29th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.6%. Citizens Financial Group’s payout ratio is presently 51.54%.

Wall Street Analysts Forecast Growth

CFG has been the subject of several research analyst reports. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Citigroup increased their price objective on shares of Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $48.50 to $52.00 in a report on Friday, August 1st. Evercore ISI upped their target price on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

About Citizens Financial Group

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.