Old Port Advisors Buys 451 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Old Port Advisors grew its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,366 shares of the bank’s stock after purchasing an additional 451 shares during the period. Old Port Advisors’ holdings in Citizens Financial Group were worth $1,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in Citizens Financial Group by 61.4% in the second 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 last quarter. Capital International Investors lifted its holdings in shares of Citizens Financial Group by 4.4% in the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after acquiring an additional 1,552,333 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Citizens Financial Group by 3,234.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after purchasing an additional 1,067,971 shares during the period. National Bank of Canada FI grew its holdings in Citizens Financial Group by 680.1% during the 2nd quarter. National Bank of Canada FI now owns 803,919 shares of the bank’s stock valued at $28,804,000 after purchasing an additional 700,860 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 587,115 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Evercore ISI dropped their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. UBS Group increased their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Barclays boosted their target price on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Price Performance

NYSE CFG opened at $42.74 on Tuesday. The company has a market cap of $19.45 billion, a PE ratio of 15.49, a P/E/G ratio of 1.42 and a beta of 1.07. The firm’s 50 day moving average price is $41.48 and its 200-day moving average price is $38.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group, Inc. has a 52-week low of $22.81 and a 52-week high of $44.39.

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. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.22 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.93%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

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.