Wilmington Savings Fund Society FSB Makes New $89,000 Investment in Citizens Financial Group, Inc. (NYSE:CFG)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 2,175 shares of the bank’s stock, valued at approximately $89,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after acquiring an additional 1,615,144 shares during the period. Wellington Management Group LLP raised its position in shares of Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the period. LSV Asset Management raised its position in shares of Citizens Financial Group by 1.8% during the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after purchasing an additional 113,300 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Citizens Financial Group by 15.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after buying an additional 587,115 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CFG shares. DA Davidson increased their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Raymond James upgraded shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Wednesday. Eight 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Citizens Financial Group Price Performance

CFG stock opened at $43.45 on Friday. The stock has a market cap of $19.15 billion, a PE ratio of 17.11, a P/E/G ratio of 1.76 and a beta of 1.08. Citizens Financial Group, Inc. has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a 50-day moving average price of $44.93 and a 200 day moving average price of $41.24. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm 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 of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. Citizens Financial Group’s payout ratio is 66.14%.

About Citizens Financial Group

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.