Citizens Financial Group, Inc. $CFG Shares Newly Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, HoldingsChannel reports. The fund purchased 136,347 shares of the bank’s stock, valued at approximately $8,693,000.

A number of other institutional investors have also modified their holdings of CFG. Carolina Wealth Advisors LLC purchased a new position in shares of Citizens Financial Group during the third quarter valued at approximately $29,000. Elevation Wealth Partners LLC increased its stake in Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. Virtus Advisers LLC purchased a new position in Citizens Financial Group during the second quarter worth about $35,000. Keating Financial Advisory Services Inc. purchased a new position in Citizens Financial Group during the second quarter worth about $35,000. Finally, Align Financial LLC acquired a new stake in Citizens Financial Group in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $65.41 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.59 and a beta of 0.74. The business has a 50-day moving average of $65.65 and a 200-day moving average of $65.67.

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

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.52 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 41.85%.

Analysts Set New Price Targets

CFG has been the subject of several recent analyst reports. Stephens lowered their price target on Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. TD Cowen started coverage on shares of Citizens Financial Group in a report on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective on the stock. UBS Group cut their price objective on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Morgan Stanley decreased their target price on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.79.

Citizens Financial Group Profile

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.