202,955 Citizens Financial Group, Inc. $CFG Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. increased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 6,919.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,888 shares of the bank’s stock after buying an additional 202,955 shares during the quarter. Wedbush Securities Inc.’s holdings in Citizens Financial Group were worth $13,127,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the 2nd quarter worth approximately $223,386,000. Freestone Grove Partners LP acquired a new stake in Citizens Financial Group during the second quarter valued at approximately $95,642,000. Tidal Investments LLC boosted its holdings in Citizens Financial Group by 12.4% during the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock worth $10,187,000 after buying an additional 16,000 shares in the last quarter. Junto Capital Management LP boosted its holdings in Citizens Financial Group by 3.3% during the second quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock worth $91,605,000 after buying an additional 42,248 shares in the last quarter. Finally, Sterling Investment Management LLC bought a new stake in Citizens Financial Group during the third quarter worth approximately $2,164,000. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Truist Financial reduced their price objective on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday. Evercore restated an “outperform” rating and issued a $78.00 target price on shares of Citizens Financial Group in a report on Thursday, October 1st. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, Cantor Fitzgerald reduced their target price on Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group Trading Down 0.1%

Citizens Financial Group stock traded down $0.05 during midday trading on Friday, reaching $65.19. The stock had a trading volume of 6,803,417 shares, compared to its average volume of 5,032,498. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $27.46 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.59 and a beta of 0.72. The firm’s fifty day simple moving average is $67.11 and its two-hundred day simple moving average is $67.20.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period in the previous year, the business earned $1.05 EPS. Equities analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.52 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 41.85%.

About Citizens Financial Group

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.