NBH Bank Purchases New Stake in Citizens Financial Group, Inc. $CFG

NBH Bank acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,833 shares of the bank’s stock, valued at approximately $946,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Citizens Financial Group during the 2nd quarter worth about $223,386,000. Tidal Investments LLC boosted its stake in Citizens Financial Group by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after buying an additional 16,000 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Citizens Financial Group during the second quarter worth $95,642,000. Citizens Financial Group Inc. RI raised its stake in 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 acquiring an additional 458,698 shares in the last quarter. Finally, Sterling Investment Management LLC acquired a new position in Citizens Financial Group during the third quarter worth $2,164,000. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore set a $74.00 price objective on Citizens Financial Group in a report on Tuesday, October 27th. Morgan Stanley lowered their target price on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Robert W. Baird increased their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Cantor Fitzgerald cut their price target on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $76.79.

Citizens Financial Group Stock Up 0.9%

NYSE CFG opened at $65.41 on Thursday. The firm has a market cap of $27.42 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33. The stock’s 50 day simple moving average is $65.65 and its 200 day simple moving average is $65.67. 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 released 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 return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm posted $1.05 EPS. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 41.85%.

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.