Citizens Financial Group, Inc. (NYSE:CFG) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,076 shares of the bank’s stock after purchasing an additional 330 shares during the period. Empirical Finance LLC’s holdings in Citizens Financial Group were worth $660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in Citizens Financial Group by 6.9% during the 3rd quarter. CIBC Asset Management Inc now owns 66,839 shares of the bank’s stock valued at $2,745,000 after acquiring an additional 4,330 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Citizens Financial Group during the third quarter worth about $232,000. Curi RMB Capital LLC grew its stake in Citizens Financial Group by 2.0% in the third quarter. Curi RMB Capital LLC now owns 187,776 shares of the bank’s stock worth $7,712,000 after purchasing an additional 3,636 shares in the last quarter. MQS Management LLC bought a new stake in Citizens Financial Group in the third quarter valued at about $261,000. Finally, Entropy Technologies LP raised its stake in Citizens Financial Group by 94.8% during the third quarter. Entropy Technologies LP now owns 78,136 shares of the bank’s stock valued at $3,209,000 after buying an additional 38,024 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CFG. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.80.

Citizens Financial Group Stock Up 0.4 %

CFG opened at $46.78 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a 12 month low of $26.13 and a 12 month high of $48.35. The stock’s 50 day moving average price is $42.19 and its 200 day moving average price is $39.45. The stock has a market cap of $20.62 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.78 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.59%. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

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.