State Board of Administration of Florida Retirement System Boosts Stake in Citizens Financial Group, Inc. (NYSE:CFG)

State Board of Administration of Florida Retirement System raised its position in Citizens Financial Group, Inc. (NYSE:CFGFree Report) by 0.1% in the 3rd quarter, Holdings Channel reports. The fund owned 458,919 shares of the bank’s stock after purchasing an additional 500 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Citizens Financial Group were worth $12,299,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Kinneret Advisory LLC grew its holdings in Citizens Financial Group by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock valued at $603,000 after purchasing an additional 298 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Citizens Financial Group by 63.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 984 shares of the bank’s stock valued at $26,000 after acquiring an additional 381 shares in the last quarter. Legacy Capital Group California Inc. increased its position in shares of Citizens Financial Group by 3.8% during the second quarter. Legacy Capital Group California Inc. now owns 10,638 shares of the bank’s stock worth $277,000 after acquiring an additional 392 shares during the last quarter. Hall Capital Management Co. Inc. lifted its stake in shares of Citizens Financial Group by 3.6% in the third quarter. Hall Capital Management Co. Inc. now owns 12,064 shares of the bank’s stock worth $323,000 after acquiring an additional 416 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its holdings in Citizens Financial Group by 5.6% in the first quarter. Gladstone Institutional Advisory LLC now owns 8,393 shares of the bank’s stock valued at $255,000 after purchasing an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Citizens Financial Group Price Performance

CFG stock opened at $32.22 on Tuesday. Citizens Financial Group, Inc. has a one year low of $22.77 and a one year high of $43.58. The firm has a 50-day moving average of $32.30 and a two-hundred day moving average of $28.95. The firm has a market capitalization of $15.02 billion, a PE ratio of 10.36 and a beta of 1.39. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFGGet Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26). The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, analysts forecast that Citizens Financial Group, Inc. will post 3.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.68 annualized dividend and a yield of 5.21%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 54.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Wolfe Research upgraded Citizens Financial Group from an “underperform” rating to a “peer perform” rating in a research report on Monday, October 23rd. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Barclays cut Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $38.00 to $40.00 in a research report on Tuesday, January 2nd. Finally, Morgan Stanley boosted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.00.

Read Our Latest Stock Analysis on Citizens Financial Group

About Citizens Financial Group

(Free Report)

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.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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