Ossiam Acquires 726,906 Shares of Citizens Financial Group, Inc. $CFG

Ossiam boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3,454.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 747,948 shares of the bank’s stock after buying an additional 726,906 shares during the quarter. Ossiam owned about 0.17% of Citizens Financial Group worth $33,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Investors Research Corp boosted its stake in shares of 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 acquiring an additional 500 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Citizens Financial Group by 177.5% in 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. GoalVest Advisory LLC lifted its holdings in Citizens Financial Group by 16,900.0% in the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock worth $30,000 after purchasing an additional 676 shares during the last quarter. REAP Financial Group LLC boosted its position in Citizens Financial Group by 72.4% during the second 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 period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Citizens Financial Group during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CFG. Morgan Stanley raised shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $53.00 to $71.00 in a research report on Monday, September 29th. Raymond James Financial set a $62.00 target price on shares of Citizens Financial Group and gave the stock a “strong-buy” rating in a report on Tuesday, October 7th. Cowen reissued a “buy” rating on shares of Citizens Financial Group in a research report on Monday, December 1st. Bank of America raised Citizens Financial Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $65.00 in a research report on Thursday, October 9th. Finally, Evercore ISI lifted their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Citizens Financial Group currently has an average rating of “Buy” and an average target price of $56.57.

Citizens Financial Group Stock Performance

NYSE CFG opened at $55.54 on Monday. The company’s fifty day moving average is $52.09 and its two-hundred day moving average is $48.87. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $56.17. 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 firm has a market capitalization of $23.86 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 0.59 and a beta of 0.73.

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

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were given a $0.46 dividend. The ex-dividend date was Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio is 51.54%.

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.