Raymond James Trust N.A. Boosts Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Raymond James Trust N.A. lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 22.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,743 shares of the bank’s stock after acquiring an additional 1,593 shares during the quarter. Raymond James Trust N.A.’s holdings in Citizens Financial Group were worth $359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Citizens Financial Group in the second quarter worth approximately $25,000. Costello Asset Management INC bought a new position in shares of Citizens Financial Group in the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of Citizens Financial Group in the 3rd quarter worth $27,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group during the 3rd quarter worth $28,000. Finally, Versant Capital Management Inc boosted its position in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CFG shares. The Goldman Sachs Group boosted their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI decreased their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley increased their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, DA Davidson boosted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.47.

Citizens Financial Group Stock Performance

CFG opened at $48.17 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a 12-month low of $26.13 and a 12-month high of $49.25. The firm has a 50 day moving average of $43.29 and a two-hundred day moving average of $40.07. The firm has a market capitalization of $21.23 billion, a PE ratio of 18.96, a P/E/G ratio of 1.84 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

About Citizens Financial Group

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.