Trust Investment Advisors Has $1.57 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Trust Investment Advisors reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,156 shares of the bank’s stock after selling 2,043 shares during the period. Trust Investment Advisors’ holdings in Citizens Financial Group were worth $1,573,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CFG. Brookstone Capital Management lifted its stake in Citizens Financial Group by 2.9% during the second quarter. Brookstone Capital Management now owns 7,497 shares of the bank’s stock worth $336,000 after purchasing an additional 214 shares during the period. Lynx Investment Advisory raised its holdings in shares of Citizens Financial Group by 2.8% in the 2nd quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock worth $401,000 after buying an additional 243 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after buying an additional 274 shares during the period. Old Port Advisors boosted its stake in Citizens Financial Group by 0.9% in the 1st quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock valued at $1,342,000 after buying an additional 296 shares in the last quarter. Finally, REAP Financial Group LLC grew its position in Citizens Financial Group by 72.4% in the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $51.86 on Tuesday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $55.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $51.71 and its 200-day moving average is $45.88. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.56 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the company posted $0.79 EPS. Citizens Financial Group’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 29th. Citizens Financial Group’s payout ratio is currently 51.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CFG shares. Stephens reissued an “overweight” rating and set a $60.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 16th. UBS Group lifted their price target on shares of Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Bank of America raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $65.00 in a research note on Thursday, October 9th. Citigroup raised their price objective on shares of Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, Wells Fargo & Company set a $57.00 target price on Citizens Financial Group in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.57.

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.