CVA Family Office LLC Decreases Stake in Citizens Financial Group, Inc. $CFG

CVA Family Office LLC lessened its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,387 shares of the bank’s stock after selling 225 shares during the period. CVA Family Office LLC’s holdings in Citizens Financial Group were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. AustralianSuper Pty Ltd purchased a new position in Citizens Financial Group in the first quarter valued at $108,864,000. Assetmark Inc. boosted its position in shares of Citizens Financial Group by 11,167.0% during the 1st quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock worth $55,209,000 after acquiring an additional 1,335,577 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Citizens Financial Group by 19.1% in the 1st quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock valued at $294,007,000 after acquiring an additional 1,180,390 shares during the last quarter. Nordea Investment Management AB lifted its stake in Citizens Financial Group by 20.7% during the second quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock worth $287,932,000 after purchasing an additional 1,098,684 shares during the last quarter. Finally, Swedbank AB boosted its holdings in Citizens Financial Group by 291.5% in the second quarter. Swedbank AB now owns 1,352,458 shares of the bank’s stock valued at $60,522,000 after purchasing an additional 1,006,999 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CFG. Barclays upped their price objective on shares of Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 16th. Cantor Fitzgerald assumed coverage on shares of Citizens Financial Group in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price objective on the stock. Evercore ISI increased their target price on shares of Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Wall Street Zen upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Citizens Financial Group in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average target price of $56.57.

Citizens Financial Group Trading Up 2.5%

NYSE CFG opened at $52.22 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $22.52 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.56 and a beta of 0.79. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $55.24. The firm has a 50-day moving average price of $51.64 and a 200 day moving average price of $45.78.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) 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 analysts’ expectations 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be given a $0.46 dividend. The ex-dividend date is Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.5%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 47.06%.

Citizens Financial Group 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.