Heritage Family Offices LLP Acquires 9,599 Shares of Citizens Financial Group, Inc. $CFG

Heritage Family Offices LLP acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,599 shares of the bank’s stock, valued at approximately $612,000.

A number of other large investors also recently bought and sold shares of the company. 55 North Private Wealth LLC boosted its holdings in shares of Citizens Financial Group by 4.6% in the third quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock valued at $244,000 after acquiring an additional 170 shares in the last quarter. Cookson Peirce & Co. Inc. raised its holdings in Citizens Financial Group by 0.3% during the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock worth $3,946,000 after purchasing an additional 174 shares in the last quarter. Profund Advisors LLC raised its holdings in Citizens Financial Group by 3.4% during the third quarter. Profund Advisors LLC now owns 5,263 shares of the bank’s stock worth $336,000 after purchasing an additional 174 shares in the last quarter. Trustmark Bank Trust Department raised its holdings in Citizens Financial Group by 4.9% during the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after purchasing an additional 198 shares in the last quarter. Finally, GoalVest Advisory LLC lifted its position in Citizens Financial Group by 29.9% in the third quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock valued at $56,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CFG. DA Davidson set a $82.00 price objective on Citizens Financial Group in a report on Monday, October 19th. Royal Bank Of Canada reduced their price target on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Barclays lifted their price target on Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Raymond James Financial dropped their price objective on Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Finally, Argus reduced their target price on Citizens Financial Group from $80.00 to $78.00 in a report on Monday, October 19th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $76.79.

Citizens Financial Group Price Performance

CFG traded down $0.49 during trading on Friday, reaching $63.34. 3,285,098 shares of the stock were exchanged, compared to its average volume of 4,815,222. The business’s 50 day moving average price is $65.87 and its two-hundred day moving average price is $65.64. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.59 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.

Citizens Financial Group (NYSE:CFG) last announced 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 business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the business posted $1.05 earnings per share. As a group, equities 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. Shareholders of record on Friday, October 30th will be issued a dividend of $0.52 per share. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. Citizens Financial Group’s payout ratio is 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.

Citizens traces its history to High Street Bank, founded in Providence in 1828.