Keybank National Association OH Acquires 1,421,256 Shares of Citizens Financial Group, Inc. $CFG

Keybank National Association OH increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3,657.3% in the third quarter, Holdings Channel reports. The firm owned 1,460,117 shares of the bank’s stock after acquiring an additional 1,421,256 shares during the period. Keybank National Association OH’s holdings in Citizens Financial Group were worth $93,097,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Citizens Financial Group in the 2nd quarter valued at $3,415,046,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Citizens Financial Group by 7,979.7% during the third 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Citizens Financial Group by 1,252.4% during the third 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 in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Citizens Financial Group by 4,682.2% in the third quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank’s stock worth $209,509,000 after buying an additional 3,217,195 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Citizens Financial Group in the second quarter worth about $223,386,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Down 0.3%

Shares of CFG opened at $64.91 on Wednesday. The company has a market capitalization of $27.21 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.59 and a beta of 0.74. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day moving average price of $65.70 and a 200 day moving average price of $65.65.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm earned $1.05 EPS. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

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

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent research reports. Jefferies Financial Group lowered their target price on Citizens Financial Group from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. JPMorgan Chase & Co. reduced their price target on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Bank of America lowered their price objective on shares of Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $76.79.

Citizens Financial Group Profile

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.