CIBC Asset Management Inc Acquires 39,733 Shares of Citizens Financial Group, Inc. $CFG

CIBC Asset Management Inc lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 63.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,095 shares of the bank’s stock after acquiring an additional 39,733 shares during the quarter. CIBC Asset Management Inc’s holdings in Citizens Financial Group were worth $5,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. AA Financial Advisors LLC raised its holdings in Citizens Financial Group by 3.9% in the fourth quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after purchasing an additional 174 shares in the last quarter. Inscription Capital LLC raised its holdings in Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after purchasing an additional 175 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after purchasing an additional 175 shares in the last quarter. Grove Bank & Trust raised its holdings in Citizens Financial Group by 19.8% in the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock worth $65,000 after purchasing an additional 183 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings in Citizens Financial Group by 3.7% in the fourth quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock worth $308,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CFG shares. Citigroup reiterated a “buy” rating on shares of Citizens Financial Group in a report on Friday, May 8th. DA Davidson increased their price objective on Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Morgan Stanley decreased their price objective on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Evercore reiterated an “outperform” rating and issued a $75.00 price objective on shares of Citizens Financial Group in a report on Tuesday, April 21st. Nineteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $70.88.

Citizens Financial Group Trading Up 0.3%

Citizens Financial Group stock opened at $64.09 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a one year low of $40.17 and a one year high of $68.79. The stock has a market capitalization of $27.10 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.51 and a beta of 0.68. The business’s fifty day moving average is $62.84 and its 200 day moving average is $60.81.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm posted $0.77 earnings per share. Citizens Financial Group’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. Citizens Financial Group’s dividend payout ratio (DPR) is 43.50%.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider directly owned 22,565 shares of the company’s stock, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan Lamonica sold 13,258 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the sale, the insider directly owned 165,971 shares in the company, valued at $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.