64,037 Shares of Citizens Financial Group, Inc. $CFG Bought by MBL Wealth LLC

MBL Wealth LLC purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 64,037 shares of the bank’s stock, valued at approximately $4,083,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Compass Wealth Management LLC grew its holdings in shares of Citizens Financial Group by 52.1% during the third quarter. Compass Wealth Management LLC now owns 16,271 shares of the bank’s stock worth $1,037,000 after purchasing an additional 5,571 shares in the last quarter. Indiana Trust & Investment Management Co purchased a new stake in Citizens Financial Group in the third quarter valued at approximately $938,000. Brookstone Capital Management raised its stake in Citizens Financial Group by 4,764.9% in the third quarter. Brookstone Capital Management now owns 359,956 shares of the bank’s stock valued at $22,951,000 after purchasing an additional 352,557 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Citizens Financial Group by 328.8% in the third quarter. SeaCrest Wealth Management LLC now owns 82,866 shares of the bank’s stock valued at $5,284,000 after purchasing an additional 63,542 shares in the last quarter. Finally, NBT Bank N.A. bought a new stake in Citizens Financial Group during the third quarter valued at approximately $9,220,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. TD Cowen assumed coverage on shares of Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Citizens Financial Group in a report on Friday, October 16th. JPMorgan Chase & Co. dropped 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 report on Friday, October 2nd. Finally, Royal Bank Of Canada cut their target price on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $65.22 on Friday. The firm has a market capitalization of $27.47 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. 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, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33. The business’s 50-day moving average price is $67.30 and its 200-day moving average price is $67.22.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter in the previous year, the company posted $1.05 EPS. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is 37.02%.

Citizens Financial Group Company 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.