Harbour Investments Inc. Has $36,000 Stock Position in Citizens Financial Group, Inc. $CFG

Harbour Investments Inc. decreased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 81.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 804 shares of the bank’s stock after selling 3,629 shares during the period. Harbour Investments Inc.’s holdings in Citizens Financial Group were worth $36,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Trust Co. of Vermont raised its holdings in Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock worth $29,000 after purchasing an additional 410 shares during the last quarter. Investors Research Corp raised its holdings in Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after purchasing an additional 500 shares during the last quarter. REAP Financial Group LLC raised its holdings in Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after purchasing an additional 309 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Citizens Financial Group by 143.4% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after purchasing an additional 634 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Citizens Financial Group during the 1st quarter worth about $46,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $52.22 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $22.52 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79. The stock has a 50-day moving average of $51.64 and a 200-day moving average of $45.64. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $55.24.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the business earned $0.79 EPS. Citizens Financial Group’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.54%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup boosted their price objective on Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Raymond James Financial set a $62.00 price objective on Citizens Financial Group and gave the stock a “strong-buy” rating in a report on Tuesday, October 7th. DA Davidson reissued a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 16th. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Finally, UBS Group upped their price target on Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.57.

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.