Mizuho Securities USA LLC Boosts Position in Citizens Financial Group, Inc. (NYSE:CFG)

Mizuho Securities USA LLC boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 729.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 291,030 shares of the bank’s stock after acquiring an additional 255,945 shares during the period. Mizuho Securities USA LLC’s holdings in Citizens Financial Group were worth $11,953,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Citizens Financial Group during the second quarter valued at about $25,000. Costello Asset Management INC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $27,000. Catalyst Capital Advisors LLC bought a new position in shares of Citizens Financial Group in the 3rd quarter worth approximately $28,000. Finally, Versant Capital Management Inc lifted its stake in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $46.78 on Friday. The company’s 50-day simple moving average is $42.19 and its two-hundred day simple moving average is $39.42. 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 one year low of $26.13 and a one year high of $48.35. The company has a market capitalization of $20.62 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.77 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The company 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%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

Analyst Upgrades and Downgrades

CFG has been the subject of a number of research reports. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. DA Davidson raised their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Piper Sandler lifted their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.80.

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.