Citizens Financial Group, Inc. $CFG Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 10,904.7% during the third quarter, Holdings Channel reports. The fund owned 1,849,786 shares of the bank’s stock after purchasing an additional 1,832,977 shares during the quarter. Kestra Advisory Services LLC’s holdings in Citizens Financial Group were worth $117,942,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Citizens Financial Group in the second quarter valued at about $3,415,046,000. Robeco Institutional Asset Management B.V. increased its holdings in Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after purchasing an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after purchasing an additional 8,523,938 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Citizens Financial Group by 4,682.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank’s stock worth $209,509,000 after purchasing an additional 3,217,195 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at approximately $223,386,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 3.2%

NYSE:CFG opened at $63.79 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $26.74 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.60 and a beta of 0.74. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33. The stock has a 50-day simple moving average of $66.01 and a 200 day simple moving average of $65.63.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Sell-side analysts predict that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, October 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is 41.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial reduced their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research note on Friday, October 30th. Citigroup dropped their price target on shares of Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Keefe, Bruyette & Woods upped their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, Evercore set a $74.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, October 27th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average target price of $76.79.

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.