JPMorgan Chase & Co. Raises Position in Citizens Financial Group, Inc. $CFG

JPMorgan Chase & Co. raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 28.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,104,272 shares of the bank’s stock after acquiring an additional 688,820 shares during the period. JPMorgan Chase & Co.’s holdings in Citizens Financial Group were worth $138,916,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Investors Research Corp boosted its position in shares of Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after purchasing an additional 500 shares in the last quarter. Trust Co. of Vermont lifted its position in Citizens Financial Group by 177.5% during the second quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after buying an additional 410 shares during the period. GoalVest Advisory LLC lifted its position in Citizens Financial Group by 16,900.0% during the second quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after buying an additional 676 shares during the period. REAP Financial Group LLC boosted its holdings in shares of Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after buying an additional 309 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Citizens Financial Group by 143.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after acquiring an additional 634 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CFG. Stephens restated an “overweight” rating and set a $60.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Truist Financial reduced their price objective on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Bank of America upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $65.00 in a research note on Thursday, October 9th. Evercore ISI raised their price target on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Barclays boosted their price objective on shares of Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $56.57.

Citizens Financial Group Stock Down 0.3%

CFG opened at $54.03 on Thursday. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.58 and a beta of 0.82. The firm has a 50 day moving average price of $51.85 and a 200-day moving average price of $48.16. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $55.24. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

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

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were issued a $0.46 dividend. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio is currently 51.54%.

Citizens Financial Group Company 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.