87,807 Citizens Financial Group, Inc. $CFG Shares Bought by SVB Wealth LLC

SVB Wealth LLC lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1,733.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,873 shares of the bank’s stock after purchasing an additional 87,807 shares during the period. SVB Wealth LLC’s holdings in Citizens Financial Group were worth $5,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ariadne Wealth Management LP raised its position in shares of Citizens Financial Group by 16.5% in the 3rd quarter. Ariadne Wealth Management LP now owns 3,713 shares of the bank’s stock valued at $237,000 after acquiring an additional 526 shares during the period. Eurizon Capital SGR S.p.A. boosted its stake in Citizens Financial Group by 262.4% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 950,535 shares of the bank’s stock worth $60,606,000 after acquiring an additional 688,217 shares during the last quarter. Pier 88 Investment Partners LLC grew its holdings in Citizens Financial Group by 15.1% during the third quarter. Pier 88 Investment Partners LLC now owns 6,100 shares of the bank’s stock valued at $389,000 after purchasing an additional 800 shares during the period. CENTRAL TRUST Co grew its holdings in Citizens Financial Group by 31,274.7% during the third quarter. CENTRAL TRUST Co now owns 293,040 shares of the bank’s stock valued at $18,684,000 after purchasing an additional 292,106 shares during the period. Finally, Fifth Third Bancorp increased its stake in Citizens Financial Group by 4,720.9% in the third quarter. Fifth Third Bancorp now owns 4,672,049 shares of the bank’s stock valued at $297,890,000 after purchasing an additional 4,575,137 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Down 0.7%

Shares of Citizens Financial Group stock opened at $64.95 on Friday. The firm has a market cap of $27.23 billion, a PE ratio of 13.07, a P/E/G ratio of 0.60 and a beta of 0.74. The business’s 50 day simple moving average is $65.55 and its 200 day simple moving average is $65.68. 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, Inc. has a 52-week low of $49.00 and a 52-week high of $75.33.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results 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. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the business earned $1.05 EPS. On average, analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s payout ratio is 41.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CFG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Royal Bank Of Canada decreased their price target on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Jefferies Financial Group decreased their price target on shares of Citizens Financial Group from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, UBS Group dropped their price objective 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. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.79.

About Citizens Financial Group

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.