Manchester Capital Management LLC Purchases 30,293 Shares of Citizens Financial Group, Inc. $CFG

Manchester Capital Management LLC raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2,516.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,497 shares of the bank’s stock after acquiring an additional 30,293 shares during the period. Manchester Capital Management LLC’s holdings in Citizens Financial Group were worth $2,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in Citizens Financial Group in the first quarter worth $27,000. Elevation Wealth Partners LLC lifted its holdings in shares of 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 last quarter. Virtus Advisers LLC purchased a new stake in Citizens Financial Group in the second quarter valued at about $35,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Citizens Financial Group in the 2nd quarter valued at approximately $35,000. Finally, Align Financial LLC acquired a new stake in shares of Citizens Financial Group during the third quarter worth $35,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group dropped their price objective on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Barclays upped their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Truist Financial reduced their price target on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Morgan Stanley decreased their price target on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. One investment 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. Based on data from MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Stock Down 0.1%

CFG opened at $65.19 on Friday. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $67.11 and a 200 day moving average price of $67.20. The company has a market cap of $27.46 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72.

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, beating analysts’ consensus estimates 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 firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company posted $1.05 EPS. Sell-side analysts expect that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 41.85%.

About Citizens Financial Group

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 consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.