First Trust Direct Indexing L.P. Boosts Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

First Trust Direct Indexing L.P. raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 20.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,010 shares of the bank’s stock after acquiring an additional 2,579 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Citizens Financial Group were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CFG. Norden Group LLC purchased a new position in Citizens Financial Group during the 1st quarter valued at about $786,000. BNP Paribas Financial Markets grew its holdings in shares of Citizens Financial Group by 2.8% during the first quarter. BNP Paribas Financial Markets now owns 510,183 shares of the bank’s stock worth $18,515,000 after buying an additional 14,105 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Citizens Financial Group by 1.6% during the first quarter. Janney Montgomery Scott LLC now owns 127,285 shares of the bank’s stock worth $4,619,000 after buying an additional 2,003 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Citizens Financial Group during the first quarter worth about $197,000. Finally, Nordea Investment Management AB grew its holdings in shares of Citizens Financial Group by 15.3% during the first quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock worth $130,722,000 after buying an additional 480,129 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Down 0.7 %

Shares of CFG stock opened at $41.82 on Friday. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $44.39. The firm’s 50 day moving average price is $41.52 and its two-hundred day moving average price is $38.63.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.19 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.02%. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. DA Davidson lifted their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Stephens lifted their price target on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. UBS Group lifted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Evercore ISI decreased their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Hold” and a consensus target price of $43.80.

Citizens Financial Group Profile

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.