Silver Oak Securities Incorporated Makes New Investment in Citizens Financial Group, Inc. $CFG

Silver Oak Securities Incorporated purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 4th quarter, HoldingsChannel reports. The fund purchased 12,752 shares of the bank’s stock, valued at approximately $752,000.

A number of other institutional investors have also modified their holdings of the company. Capital World Investors grew its position in shares of Citizens Financial Group by 1.7% in the 3rd quarter. Capital World Investors now owns 37,289,711 shares of the bank’s stock worth $1,982,532,000 after buying an additional 614,181 shares during the last quarter. Invesco Ltd. lifted its position in Citizens Financial Group by 1.7% during the third quarter. Invesco Ltd. now owns 24,064,513 shares of the bank’s stock valued at $1,279,270,000 after acquiring an additional 393,158 shares during the last quarter. Nordea Investment Management AB boosted its stake in Citizens Financial Group by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 7,220,986 shares of the bank’s stock valued at $423,222,000 after acquiring an additional 505,614 shares in the last quarter. Capital International Investors boosted its stake in Citizens Financial Group by 2.3% in the third quarter. Capital International Investors now owns 6,047,378 shares of the bank’s stock valued at $321,534,000 after acquiring an additional 138,688 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new position in Citizens Financial Group in the third quarter worth $308,946,000. 94.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CFG. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 21st. Evercore boosted their target price on Citizens Financial Group from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. DA Davidson upped their target price on Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Barclays set a $77.00 price target on Citizens Financial Group and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. raised their price target on Citizens Financial Group from $62.50 to $71.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Twenty investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus price target of $69.27.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company’s stock, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Up 1.0%

NYSE CFG opened at $60.59 on Thursday. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $68.79. The company has a fifty day simple moving average of $61.66 and a two-hundred day simple moving average of $57.20. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The stock has a market cap of $25.75 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.49 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group’s payout ratio is presently 47.55%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.