Connable Office Inc. Increases Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Connable Office Inc. increased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,886 shares of the bank’s stock after acquiring an additional 1,974 shares during the period. Connable Office Inc.’s holdings in Citizens Financial Group were worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CFG. Mirae Asset Global Investments Co. Ltd. raised its holdings in Citizens Financial Group by 39.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,279 shares of the bank’s stock worth $1,235,000 after acquiring an additional 8,579 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Citizens Financial Group by 35.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 104,219 shares of the bank’s stock worth $4,280,000 after acquiring an additional 27,152 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Citizens Financial Group by 5.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 52,074 shares of the bank’s stock worth $2,138,000 after acquiring an additional 2,590 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Citizens Financial Group by 20.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 15,010 shares of the bank’s stock valued at $616,000 after buying an additional 2,579 shares during the last quarter. Finally, US Bancorp DE raised its stake in Citizens Financial Group by 2.1% during the 3rd quarter. US Bancorp DE now owns 32,324 shares of the bank’s stock valued at $1,328,000 after buying an additional 654 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CFG. Barclays boosted their target price on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Compass Point boosted their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Raymond James reiterated a “strong-buy” rating and set a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Trading Up 1.3 %

Shares of Citizens Financial Group stock opened at $45.75 on Friday. The company has a market capitalization of $20.00 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $45.90 and a 200 day moving average of $44.13. Citizens Financial Group, Inc. has a fifty-two week low of $30.54 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. Citizens Financial Group’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

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.