Citizens Financial Group, Inc. $CFG Shares Acquired by Financiere des Professionnels Fonds d investissement inc.

by · The Cerbat Gem

Financiere des Professionnels Fonds d investissement inc. grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 61.7% during the third quarter, HoldingsChannel reports. The fund owned 46,088 shares of the bank’s stock after purchasing an additional 17,589 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Citizens Financial Group were worth $2,450,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Citizens Financial Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock valued at $2,306,817,000 after purchasing an additional 209,467 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Citizens Financial Group by 1.2% in the 2nd quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock valued at $1,059,293,000 after buying an additional 283,321 shares in the last quarter. LSV Asset Management grew its position in shares of Citizens Financial Group by 14.5% in the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock valued at $293,685,000 after buying an additional 833,399 shares during the last quarter. Nordea Investment Management AB raised its stake in Citizens Financial Group by 20.7% during the 2nd quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock worth $287,932,000 after acquiring an additional 1,098,684 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new stake in Citizens Financial Group in the third quarter valued at $308,946,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $59.35 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. The business has a 50 day simple moving average of $54.89 and a 200-day simple moving average of $51.27. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $60.10. The stock has a market capitalization of $25.49 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.48 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG – Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. Citizens Financial Group’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. Equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were given a $0.46 dividend. The ex-dividend date was Wednesday, October 29th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. Citizens Financial Group’s payout ratio is 51.54%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 16th. Raymond James Financial set a $62.00 target price on Citizens Financial Group and gave the company a “strong-buy” rating in a research report on Tuesday, October 7th. Baird R W lowered Citizens Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Citizens Financial Group in a report on Monday. Finally, Truist Financial raised their target price on shares of Citizens Financial Group from $56.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.57.

Get Our Latest Stock Report on CFG

Citizens Financial Group Company Profile

(Free Report)

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.

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