Richard P Slaughter Associates Inc Raises Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Richard P Slaughter Associates Inc lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 56,164 shares of the bank’s stock after buying an additional 990 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Citizens Financial Group were worth $1,465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. USS Investment Management Ltd grew its position in shares of Citizens Financial Group by 34.4% in the 4th quarter. USS Investment Management Ltd now owns 142,269 shares of the bank’s stock worth $5,600,000 after buying an additional 36,400 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Citizens Financial Group by 21.6% in the 1st quarter. Federated Hermes Inc. now owns 137,691 shares of the bank’s stock worth $4,182,000 after buying an additional 24,503 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Citizens Financial Group by 7.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 79,120 shares of the bank’s stock worth $2,403,000 after buying an additional 5,619 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Citizens Financial Group by 66.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,864 shares of the bank’s stock worth $1,059,000 after buying an additional 13,944 shares during the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in Citizens Financial Group in the 1st quarter worth approximately $508,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore ISI cut shares of Citizens Financial Group from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $32.00 to $29.00 in a research note on Monday, July 10th. Royal Bank of Canada lowered their target price on shares of Citizens Financial Group from $37.00 to $33.00 and set an “outperform” rating for the company in a research note on Tuesday. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. JPMorgan Chase & Co. cut shares of Citizens Financial Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $27.00 in a research note on Thursday, June 29th. Finally, Citigroup lifted their target price on shares of Citizens Financial Group from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $28.04 on Friday. The firm has a market cap of $13.24 billion, a PE ratio of 6.43 and a beta of 1.35. The firm has a fifty day moving average of $29.12 and a 200 day moving average of $29.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.90 and a current ratio of 0.91. Citizens Financial Group, Inc. has a one year low of $23.37 and a one year high of $44.82.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Citizens Financial Group had a return on equity of 10.68% and a net margin of 20.41%. During the same period in the previous year, the firm posted $1.14 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.82 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date was Tuesday, August 1st. Citizens Financial Group’s dividend payout ratio (DPR) is 38.18%.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.