Citizens Financial Group, Inc. $CFG Stock: Lincoln Capital Corp Increases Stake

Lincoln Capital Corp increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 258.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,853 shares of the bank’s stock after acquiring an additional 13,597 shares during the quarter. Lincoln Capital Corp’s holdings in Citizens Financial Group were worth $1,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its position in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in shares of Citizens Financial Group in the 1st quarter worth about $27,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $35,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group during the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at about $35,000. Institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling

In other news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CFG. Raymond James Financial assumed coverage on shares of Citizens Financial Group in a research report on Tuesday, October 6th. They set a “strong-buy” rating and a $77.00 price target on the stock. Stephens raised their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $79.38.

Citizens Financial Group Stock Down 0.8%

Shares of NYSE CFG traded down $0.54 on Tuesday, reaching $63.36. 3,757,344 shares of the company’s stock traded hands, compared to its average volume of 4,596,787. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The business’s 50 day simple moving average is $68.62 and its two-hundred day simple moving average is $67.00. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned $0.92 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 5.29 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s payout ratio is 39.91%.

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 individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.