CIBC Asset Management Inc Increases Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

CIBC Asset Management Inc boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,839 shares of the bank’s stock after buying an additional 4,330 shares during the period. CIBC Asset Management Inc’s holdings in Citizens Financial Group were worth $2,745,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its position in Citizens Financial Group by 101.6% during the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock worth $27,641,000 after buying an additional 383,947 shares during the period. Versor Investments LP acquired a new stake in Citizens Financial Group during the 3rd quarter valued at approximately $1,910,000. UniSuper Management Pty Ltd increased its holdings in Citizens Financial Group by 1,045.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank’s stock worth $932,000 after purchasing an additional 23,449 shares during the last quarter. CWM LLC grew its position in shares of Citizens Financial Group by 77.1% during the second quarter. CWM LLC now owns 40,699 shares of the bank’s stock worth $1,466,000 after buying an additional 17,718 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Citizens Financial Group in the second quarter worth $5,009,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Barclays raised their target price on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson increased their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Piper Sandler raised their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $46.57 on Tuesday. Citizens Financial Group, Inc. has a twelve month low of $26.13 and a twelve month high of $48.35. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock’s 50-day simple moving average is $42.29 and its 200 day simple moving average is $39.53. The firm has a market capitalization of $20.52 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

About Citizens Financial Group

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.