Citizens Financial Group, Inc. $CFG Shares Acquired by Westside Investment Management Inc.

Westside Investment Management Inc. grew its position in Citizens Financial Group, Inc. (NYSE:CFG) by 163,230.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,333 shares of the bank’s stock after purchasing an additional 16,323 shares during the period. Westside Investment Management Inc.’s holdings in Citizens Financial Group were worth $1,041,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Kestra Advisory Services LLC increased its stake in shares of Citizens Financial Group by 10,904.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 1,849,786 shares of the bank’s stock worth $117,942,000 after purchasing an additional 1,832,977 shares during the last quarter. REAP Financial Group LLC boosted its stake in Citizens Financial Group by 399.7% in the 3rd quarter. REAP Financial Group LLC now owns 8,784 shares of the bank’s stock worth $560,000 after purchasing an additional 7,026 shares during the period. Inscription Capital LLC grew its stake in Citizens Financial Group by 203.6% during the third quarter. Inscription Capital LLC now owns 38,221 shares of the bank’s stock valued at $2,437,000 after acquiring an additional 25,631 shares in the last quarter. Quest 10 Wealth Builders Inc. increased its holdings in shares of Citizens Financial Group by 415.5% in the third quarter. Quest 10 Wealth Builders Inc. now owns 4,433 shares of the bank’s stock worth $283,000 after purchasing an additional 3,573 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Citizens Financial Group by 4,682.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank’s stock worth $209,509,000 after acquiring an additional 3,217,195 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $63.79 on Friday. The company has a market capitalization of $26.74 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.60 and a beta of 0.74. The business has a 50 day moving average of $66.01 and a 200 day moving average of $65.63. 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, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion for 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 last year, the firm earned $1.05 EPS. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.52 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 41.85%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CFG. 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. Evercore set a $74.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, October 27th. Royal Bank Of Canada dropped their price objective on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, October 19th. The Goldman Sachs Group dropped their price objective on shares of Citizens Financial Group from $81.00 to $79.00 and set a “buy” rating for the company in a report on Monday, October 19th. Finally, Citigroup cut their target price on shares of Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.79.

About Citizens Financial Group

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.