Citizens Financial Group, Inc. $CFG Stock Bought by Inscription Capital LLC

Inscription Capital LLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 203.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,221 shares of the bank’s stock after purchasing an additional 25,631 shares during the quarter. Inscription Capital LLC’s holdings in Citizens Financial Group were worth $2,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Citizens Financial Group in the second quarter valued at approximately $3,415,046,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Citizens Financial Group by 7,979.7% during the third 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. lifted its holdings in shares of Citizens Financial Group by 1,252.4% during the third 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares during the period. Finally, Amundi grew its position in Citizens Financial Group by 31.2% in the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock valued at $258,265,000 after buying an additional 875,666 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CFG. Robert W. Baird boosted their price objective on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Raymond James Financial cut their price objective on shares of Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

Citizens Financial Group Stock Performance

NYSE CFG opened at $63.79 on Friday. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.60 and a beta of 0.74. The business’s 50 day moving average is $66.01 and its two-hundred day moving average is $65.63. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 16th. The bank reported $1.41 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 business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm earned $1.05 EPS. Research analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.52 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 41.85%.

Citizens Financial Group Company Profile

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.