Citizens Financial Group, Inc. $CFG Holdings Boosted by SVB Wealth LLC

SVB Wealth LLC lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1,733.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,873 shares of the bank’s stock after acquiring an additional 87,807 shares during the quarter. SVB Wealth LLC’s holdings in Citizens Financial Group were worth $5,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CFG. 55 North Private Wealth LLC boosted its position 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 valued at $244,000 after purchasing an additional 170 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in Citizens Financial Group by 0.3% in the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after purchasing an additional 174 shares in the last quarter. Profund Advisors LLC increased its position in shares of Citizens Financial Group by 3.4% during the 3rd quarter. Profund Advisors LLC now owns 5,263 shares of the bank’s stock worth $336,000 after purchasing an additional 174 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Citizens Financial Group by 2.6% during the 3rd quarter. Parallel Advisors LLC now owns 7,111 shares of the bank’s stock worth $453,000 after purchasing an additional 181 shares during the last quarter. Finally, Trustmark Bank Trust Department increased its position 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 purchasing an additional 198 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CFG. Royal Bank Of Canada dropped their price objective on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. The Goldman Sachs Group decreased their target price on shares of Citizens Financial Group from $81.00 to $79.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Evercore set a $74.00 target price on shares of Citizens Financial Group in a report on Tuesday, October 27th. Raymond James Financial dropped their price target on shares of Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Finally, DA Davidson set a $82.00 price target on shares of Citizens Financial Group in a research report on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $76.79.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $64.95 on Friday. The stock has a 50 day simple moving average of $65.55 and a 200 day simple moving average of $65.68. The stock has a market cap of $27.23 billion, a P/E ratio of 13.07, a PEG ratio of 0.60 and a beta of 0.74. Citizens Financial Group, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33. 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 (NYSE:CFG) last issued 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. 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 for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the firm posted $1.05 EPS. Research analysts anticipate 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 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. The ex-dividend date of this dividend is Friday, October 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 41.85%.

About Citizens Financial Group

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.