Citizens Financial Group, Inc. $CFG Stock: NorthCrest Asset Manangement LLC Increases Holdings

NorthCrest Asset Manangement LLC increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2,189.8% during the 3rd quarter, Holdings Channel reports. The fund owned 302,323 shares of the bank’s stock after buying an additional 289,120 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Citizens Financial Group were worth $19,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CFG. BlackRock Inc. acquired a new position in Citizens Financial Group during the second quarter valued at approximately $3,415,046,000. Dimensional Fund Advisors LP raised its holdings in Citizens Financial Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after buying an additional 28,602 shares during the period. Amundi lifted its stake in Citizens Financial Group by 31.2% in the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock valued at $258,265,000 after buying an additional 875,666 shares in the last quarter. Bank of America Corp DE bought a new position in Citizens Financial Group in the second quarter valued at approximately $223,386,000. Finally, Legal & General Group Plc acquired a new position in shares of Citizens Financial Group in the second quarter valued at approximately $207,234,000. Institutional investors own 94.90% of the company’s stock.

Insider Activity at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Citizens Financial Group Stock Up 0.5%

Shares of Citizens Financial Group stock opened at $63.86 on Tuesday. The firm has a market cap of $26.90 billion, a PE ratio of 13.85, a P/E/G ratio of 0.58 and a beta of 0.72. The business’s 50 day simple moving average is $68.82 and its 200 day simple moving average is $66.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, analysts predict that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s payout ratio is currently 39.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CFG shares. UBS Group lowered their price objective on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. Truist Financial cut their price objective on shares of Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a research note on Friday, August 14th. Finally, Jefferies Financial Group increased their target price on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.38.

Citizens Financial Group Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.