Franklin Resources Inc. Has $35.44 Million Stock Position in Citizens Financial Group, Inc. $CFG

Franklin Resources Inc. grew its position in Citizens Financial Group, Inc. (NYSE:CFG) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 791,896 shares of the bank’s stock after purchasing an additional 60,443 shares during the period. Franklin Resources Inc. owned about 0.18% of Citizens Financial Group worth $35,437,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFG. Trust Co. of Vermont increased its holdings in shares of Citizens Financial Group by 177.5% in the second quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after purchasing an additional 410 shares in the last quarter. Investors Research Corp increased its holdings in Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. GoalVest Advisory LLC raised its position in shares of Citizens Financial Group by 16,900.0% in the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after acquiring an additional 676 shares during the period. REAP Financial Group LLC raised its holdings in Citizens Financial Group by 72.4% in the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after purchasing an additional 309 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Citizens Financial Group by 143.4% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after buying an additional 634 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $54.03 on Thursday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $55.24. The company’s 50 day simple moving average is $51.85 and its 200 day simple moving average is $48.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.58 and a beta of 0.82.

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

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.4%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.54%.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of research reports. Barclays lifted their price target on shares of Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 16th. Cantor Fitzgerald began coverage on Citizens Financial Group in a report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price objective for the company. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $53.00 to $71.00 in a report on Monday, September 29th. Raymond James Financial set a $62.00 price objective on shares of Citizens Financial Group and gave the company a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Truist Financial decreased their target price on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Buy” and a consensus price target of $56.57.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.