NBT Bank N.A. Makes New $9.22 Million Investment in Citizens Financial Group, Inc. $CFG

NBT Bank N.A. acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 144,609 shares of the bank’s stock, valued at approximately $9,220,000.

Several other large investors also recently modified their holdings of CFG. Cedar Mountain Advisors LLC acquired a new stake in shares of Citizens Financial Group during the 1st quarter worth about $27,000. Elevation Wealth Partners LLC grew its stake in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after buying an additional 323 shares during the last quarter. Virtus Advisers LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at about $35,000. Keating Financial Advisory Services Inc. bought a new position in Citizens Financial Group in the 2nd quarter valued at about $35,000. Finally, Align Financial LLC bought a new position in Citizens Financial Group in the 3rd quarter valued at about $35,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Up 0.5%

CFG stock opened at $65.22 on Friday. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The company has a market capitalization of $27.47 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. The company’s 50-day simple moving average is $67.30 and its 200 day simple moving average is $67.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter in the previous year, the company earned $1.05 EPS. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, October 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.02%.

Analyst Ratings Changes

Several brokerages have issued reports on CFG. Raymond James Financial restated a “strong-buy” rating on shares of Citizens Financial Group in a research report on Friday, October 16th. Truist Financial decreased their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday. UBS Group lowered their target price on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Stephens dropped their price target on Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Royal Bank Of Canada dropped their price target on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average price target of $77.47.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.