Citizens Financial Group, Inc. $CFG Stock: Kestra Advisory Services LLC Grows Position

Kestra Advisory Services LLC grew its position in Citizens Financial Group, Inc. (NYSE:CFG) by 10,904.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,849,786 shares of the bank’s stock after purchasing an additional 1,832,977 shares during the period. Kestra Advisory Services LLC owned approximately 0.44% of Citizens Financial Group worth $117,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. REAP Financial Group LLC increased its position in Citizens Financial Group by 399.7% during 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 in the last quarter. Inscription Capital LLC raised its holdings in Citizens Financial Group by 203.6% in the third quarter. Inscription Capital LLC now owns 38,221 shares of the bank’s stock valued at $2,437,000 after buying an additional 25,631 shares during the period. Quest 10 Wealth Builders Inc. lifted its position in Citizens Financial Group by 415.5% during the third quarter. Quest 10 Wealth Builders Inc. now owns 4,433 shares of the bank’s stock valued at $283,000 after buying an additional 3,573 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Citizens Financial Group by 4,682.2% during the third quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank’s stock valued at $209,509,000 after buying an additional 3,217,195 shares in the last quarter. Finally, TFB Advisors LLC lifted its position in Citizens Financial Group by 9.5% during the third quarter. TFB Advisors LLC now owns 4,721 shares of the bank’s stock valued at $301,000 after buying an additional 411 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CFG shares. Bank of America dropped their price objective on shares of Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Cantor Fitzgerald reduced their target price on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Morgan Stanley decreased their price target on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Finally, Citigroup lowered their price target on Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Seventeen research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.79.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $63.79 on Friday. The stock’s 50 day moving average price is $66.01 and its 200 day moving average price is $65.63. The firm has a market capitalization of $26.74 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly 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. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s payout ratio is currently 41.85%.

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.