Van ECK Associates Corp Purchases 361 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Van ECK Associates Corp grew its position in Citizens Financial Group, Inc. (NYSE:CFG) by 6.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,330 shares of the bank’s stock after purchasing an additional 361 shares during the quarter. Van ECK Associates Corp’s holdings in Citizens Financial Group were worth $262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its stake in Citizens Financial Group by 12.7% in the second quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock worth $84,000 after acquiring an additional 264 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Citizens Financial Group by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock valued at $292,000 after purchasing an additional 305 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in Citizens Financial Group by 0.3% during the third quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock valued at $3,648,000 after buying an additional 308 shares during the period. Abich Financial Wealth Management LLC raised its stake in Citizens Financial Group by 11.5% in the second quarter. Abich Financial Wealth Management LLC now owns 3,250 shares of the bank’s stock worth $117,000 after buying an additional 334 shares in the last quarter. Finally, Tealwood Asset Management Inc. lifted its holdings in Citizens Financial Group by 0.8% during the third quarter. Tealwood Asset Management Inc. now owns 43,059 shares of the bank’s stock worth $1,768,000 after buying an additional 360 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.2 %

Shares of CFG stock opened at $46.40 on Wednesday. Citizens Financial Group, Inc. has a fifty-two week low of $24.73 and a fifty-two week high of $48.35. The firm has a market capitalization of $20.45 billion, a PE ratio of 18.27, a P/E/G ratio of 1.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day simple moving average is $41.80 and its 200-day simple moving average is $39.12.

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

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.62%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CFG. Royal Bank of Canada lifted their price target on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Piper Sandler raised their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. UBS Group boosted their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, DA Davidson increased their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.80.

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.