Citizens Financial Group, Inc. $CFG Stake Lifted by Newman Dignan & Sheerar Inc.

Newman Dignan & Sheerar Inc. raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 89.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,726 shares of the bank’s stock after acquiring an additional 16,392 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Citizens Financial Group were worth $2,214,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth approximately $3,415,046,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after purchasing an additional 12,014,785 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Citizens Financial Group by 1,252.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after purchasing an additional 8,523,938 shares during the period. Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at $223,386,000. Finally, Legal & General Group Plc acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at $207,234,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Activity

In other news, CEO Bruce Van Saun sold 129,369 shares of Citizens Financial Group stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by company insiders.

Citizens Financial Group Trading Up 2.4%

Shares of NYSE:CFG opened at $64.25 on Wednesday. The business’s 50 day moving average price is $67.66 and its 200-day moving average price is $67.16. Citizens Financial Group, Inc. has a 1 year low of $49.00 and a 1 year high of $75.33. The firm has a market capitalization of $27.06 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $1.05 EPS. On average, equities research analysts forecast that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on CFG shares. DA Davidson set a $82.00 price target on shares of Citizens Financial Group in a report on Monday. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. JPMorgan Chase & Co. decreased 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 report on Friday, October 2nd. Finally, UBS Group lowered their target price on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. One equities 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group 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 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.