36,275 Citizens Financial Group, Inc. $CFG Shares Acquired by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 126.8% in the third quarter, Holdings Channel reports. The firm owned 64,875 shares of the bank’s stock after purchasing an additional 36,275 shares during the quarter. Citizens Financial Group accounts for about 1.4% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 17th largest position. Bourne Lent Asset Management Inc.’s holdings in Citizens Financial Group were worth $4,136,000 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. 55 North Private Wealth LLC grew its stake in Citizens Financial Group by 4.6% during the third quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock worth $244,000 after buying an additional 170 shares in the last quarter. Cookson Peirce & Co. Inc. raised its position in shares of Citizens Financial Group by 0.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after buying an additional 174 shares in the last quarter. Profund Advisors LLC raised its position in shares of Citizens Financial Group by 3.4% in the 3rd quarter. Profund Advisors LLC now owns 5,263 shares of the bank’s stock valued at $336,000 after buying an additional 174 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Citizens Financial Group by 2.6% in the 3rd quarter. Parallel Advisors LLC now owns 7,111 shares of the bank’s stock valued at $453,000 after buying an additional 181 shares in the last quarter. Finally, Trustmark Bank Trust Department lifted its holdings in shares of Citizens Financial Group by 4.9% during the 2nd quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after acquiring an additional 198 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.9%

CFG stock opened at $65.41 on Thursday. The stock has a market capitalization of $27.42 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33. The firm has a 50-day moving average price of $65.65 and a 200-day moving average price of $65.67.

Citizens Financial Group (NYSE:CFG) last posted 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. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period last year, the company posted $1.05 EPS. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is currently 41.85%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Argus reduced their price target on shares of Citizens Financial Group from $80.00 to $78.00 in a research report on Monday, October 19th. TD Cowen assumed coverage on shares of Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective for the company. Stephens lowered their price objective on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Bank of America cut their target price on Citizens Financial Group from $82.00 to $76.00 in a research note on Thursday, October 8th. Finally, Cantor Fitzgerald reduced their target price on Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.79.

Citizens Financial Group Profile

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.