Citizens Financial Group, Inc. $CFG Stock Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 113.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,195 shares of the bank’s stock after acquiring an additional 21,402 shares during the quarter. Sterling Capital Management LLC’s holdings in Citizens Financial Group were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Citizens Financial Group during the 2nd quarter valued at approximately $3,415,046,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Citizens Financial Group by 7,979.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after purchasing an additional 12,014,785 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Citizens Financial Group by 1,252.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after purchasing an additional 8,523,938 shares during the period. Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the 2nd quarter worth approximately $223,386,000. Finally, Legal & General Group Plc bought a new stake in shares of Citizens Financial Group in the 2nd quarter valued at $207,234,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Trading Up 0.1%

NYSE:CFG opened at $65.19 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33. The company has a market cap of $27.46 billion, a PE ratio of 13.12, a PEG ratio of 0.59 and a beta of 0.72. The firm has a 50-day moving average of $67.11 and a 200-day moving average of $67.24.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $1.05 EPS. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently disclosed 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 3.2%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating and set a $78.00 price objective on shares of Citizens Financial Group in a research report on Thursday, October 1st. Truist Financial dropped their target price on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, October 20th. Robert W. Baird upped their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Cantor Fitzgerald decreased their price target 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. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Citizens Financial Group in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group 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.