7,908 Citizens Financial Group, Inc. $CFG Shares Purchased by Valley National Advisers Inc.

Valley National Advisers Inc. raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 1,261.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,535 shares of the bank’s stock after purchasing an additional 7,908 shares during the period. Valley National Advisers Inc.’s holdings in Citizens Financial Group were worth $544,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at $3,415,046,000. Robeco Institutional Asset Management B.V. increased its position in shares of Citizens Financial Group by 7,979.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after buying an additional 12,014,785 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Citizens Financial Group by 1,252.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after buying an additional 8,523,938 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Citizens Financial Group by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock valued at $282,927,000 after buying an additional 28,602 shares in the last quarter. Finally, Amundi raised its stake in Citizens Financial Group by 31.2% during the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after buying an additional 875,666 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CFG. Barclays lifted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Truist Financial lowered their price target on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Argus set a $80.00 price target on Citizens Financial Group in a research report on Wednesday, July 29th. DA Davidson set a $82.00 price objective on Citizens Financial Group in a report on Monday, October 19th. Finally, Morgan Stanley decreased their price objective on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. One 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $65.19 on Monday. Citizens Financial Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $75.33. The stock has a market capitalization of $27.46 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $67.11 and a 200-day moving average of $67.24.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations 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, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.02%.

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.