Geode Capital Management LLC Has $442.25 Million Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Geode Capital Management LLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,804,731 shares of the bank’s stock after buying an additional 23,007 shares during the quarter. Geode Capital Management LLC owned about 2.45% of Citizens Financial Group worth $442,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFG. MidWestOne Financial Group Inc. acquired a new position in Citizens Financial Group during the 3rd quarter worth approximately $221,000. Brophy Wealth Management LLC acquired a new stake in Citizens Financial Group in the 3rd quarter valued at $319,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Citizens Financial Group by 1.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 138,333 shares of the bank’s stock valued at $5,681,000 after acquiring an additional 1,338 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Citizens Financial Group in the third quarter valued at approximately $48,000. Finally, Orion Portfolio Solutions LLC increased its position in shares of Citizens Financial Group by 9.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 38,986 shares of the bank’s stock worth $1,601,000 after purchasing an additional 3,263 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Trading Up 0.3 %

NYSE CFG opened at $45.69 on Friday. Citizens Financial Group, Inc. has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $20.14 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. The business’s 50-day moving average price is $44.71 and its two-hundred day moving average price is $40.92.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts expect that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.68%. Citizens Financial Group’s dividend payout ratio is currently 66.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CFG shares. Royal Bank of Canada upped their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup lifted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $46.94.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company 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.