Equity Investment Corp Invests $210,000 in Citizens Financial Group, Inc. $CFG

Equity Investment Corp bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,697 shares of the bank’s stock, valued at approximately $210,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its holdings in shares of Citizens Financial Group by 2.9% during the second quarter. Brookstone Capital Management now owns 7,497 shares of the bank’s stock valued at $336,000 after acquiring an additional 214 shares in the last quarter. Lynx Investment Advisory increased its holdings in shares of Citizens Financial Group by 2.8% during the second quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock valued at $401,000 after acquiring an additional 243 shares in the last quarter. NewEdge Advisors LLC increased its stake in Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after purchasing an additional 274 shares in the last quarter. Old Port Advisors increased its stake in Citizens Financial Group by 0.9% during the 1st quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock valued at $1,342,000 after purchasing an additional 296 shares in the last quarter. Finally, REAP Financial Group LLC increased its stake in Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after purchasing an additional 309 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on CFG. Wall Street Zen upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. DA Davidson reissued a “buy” rating and issued a $59.00 target price on shares of Citizens Financial Group in a research report on Thursday, October 16th. Truist Financial cut their target price on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Evercore ISI increased their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Citigroup increased their price objective on Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.57.

Citizens Financial Group Stock Down 0.6%

NYSE:CFG opened at $50.71 on Wednesday. The firm has a market capitalization of $21.87 billion, a P/E ratio of 14.20, a PEG ratio of 0.54 and a beta of 0.82. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $55.24. The company’s fifty day moving average price is $51.84 and its 200-day moving average price is $46.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. As a group, equities research 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. Investors of record on Wednesday, October 29th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.6%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio is 51.54%.

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.