Citizens Financial Group, Inc. $CFG Shares Purchased by CENTRAL TRUST Co

CENTRAL TRUST Co raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 31,274.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 293,040 shares of the bank’s stock after buying an additional 292,106 shares during the period. CENTRAL TRUST Co’s holdings in Citizens Financial Group were worth $18,684,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bank of America Corp DE purchased a new position in Citizens Financial Group in the 2nd quarter valued at $223,386,000. Tidal Investments LLC boosted its stake in Citizens Financial Group by 12.4% during the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock worth $10,187,000 after purchasing an additional 16,000 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Citizens Financial Group during the second quarter worth $95,642,000. Citizens Financial Group Inc. RI grew its holdings in shares of Citizens Financial Group by 145.6% during the third quarter. Citizens Financial Group Inc. RI now owns 773,677 shares of the bank’s stock worth $49,330,000 after buying an additional 458,698 shares in the last quarter. Finally, Sterling Investment Management LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth $2,164,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.9%

Shares of NYSE CFG opened at $65.41 on Thursday. The company has a market capitalization of $27.42 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day simple moving average of $65.65 and a 200-day simple moving average of $65.67. Citizens Financial Group, Inc. has a 1 year low of $49.00 and a 1 year high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, equities research analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays increased their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Cantor Fitzgerald lowered their price target on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Truist Financial cut their price objective on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research note on Friday, October 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.