Citizens Financial Group, Inc. $CFG Stock Purchased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 328.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,866 shares of the bank’s stock after purchasing an additional 63,542 shares during the period. SeaCrest Wealth Management LLC’s holdings in Citizens Financial Group were worth $5,284,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. NBT Bank N.A. purchased a new stake in Citizens Financial Group during the third quarter worth $9,220,000. Root Financial Partners LLC boosted its position in Citizens Financial Group by 707.5% during the 3rd quarter. Root Financial Partners LLC now owns 29,562 shares of the bank’s stock valued at $1,885,000 after acquiring an additional 25,901 shares in the last quarter. E. Ohman J or Asset Management AB increased its holdings in shares of Citizens Financial Group by 1,395.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 219,818 shares of the bank’s stock valued at $14,016,000 after acquiring an additional 205,117 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Citizens Financial Group by 56,817.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 616,981 shares of the bank’s stock valued at $39,339,000 after acquiring an additional 615,897 shares during the period. Finally, Pinnacle Bancorp Inc. bought a new position in shares of Citizens Financial Group in the 3rd quarter worth $1,344,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of CFG opened at $65.22 on Friday. The company has a 50 day moving average of $67.30 and a two-hundred day moving average of $67.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The company has a market cap of $27.47 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is 37.02%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Evercore reiterated an “outperform” rating and issued a $78.00 target price on shares of Citizens Financial Group in a research note on Thursday, October 1st. DA Davidson set a $82.00 target price on Citizens Financial Group in a research note on Monday. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Finally, Truist Financial decreased their price target on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group Company 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 consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.