Sumitomo Mitsui Trust Group Inc. Raises Stake in Citizens Financial Group, Inc. $CFG

Sumitomo Mitsui Trust Group Inc. raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,082,586 shares of the bank’s stock after purchasing an additional 68,815 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Citizens Financial Group worth $57,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. StoneX Group Inc. increased its holdings in Citizens Financial Group by 0.4% in the second quarter. StoneX Group Inc. now owns 60,307 shares of the bank’s stock valued at $2,699,000 after buying an additional 213 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Citizens Financial Group by 2.9% in the 2nd quarter. Brookstone Capital Management now owns 7,497 shares of the bank’s stock valued at $336,000 after acquiring an additional 214 shares during the last quarter. Lynx Investment Advisory increased its holdings in shares of Citizens Financial Group by 2.8% in the 2nd quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock valued at $401,000 after acquiring an additional 243 shares during the last quarter. Gries Financial LLC raised its position in shares of Citizens Financial Group by 3.4% during the 3rd quarter. Gries Financial LLC now owns 7,331 shares of the bank’s stock worth $390,000 after acquiring an additional 243 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in Citizens Financial Group by 2.3% during the second quarter. Wealthspire Advisors LLC now owns 11,570 shares of the bank’s stock worth $518,000 after purchasing an additional 257 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of CFG opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $62.16. The firm has a 50-day simple moving average of $56.63 and a 200-day simple moving average of $52.41. The company has a market capitalization of $26.02 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 0.52 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CFG shares. Robert W. Baird reiterated a “neutral” rating and issued a $60.00 price target on shares of Citizens Financial Group in a research note on Thursday, December 11th. Morgan Stanley raised shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $53.00 to $71.00 in a research report on Monday, September 29th. Raymond James Financial lowered shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $62.00 to $66.00 in a research note on Wednesday, January 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 price target on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Finally, Cowen reaffirmed a “buy” rating on shares of Citizens Financial Group in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.33.

About Citizens Financial Group

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.