Wealthfront Advisers LLC Has $8.93 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Wealthfront Advisers LLC raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 199,479 shares of the bank’s stock after acquiring an additional 11,868 shares during the quarter. Wealthfront Advisers LLC’s holdings in Citizens Financial Group were worth $8,927,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brookstone Capital Management lifted its stake in Citizens Financial Group by 2.9% in the second quarter. Brookstone Capital Management now owns 7,497 shares of the bank’s stock valued at $336,000 after acquiring an additional 214 shares during the last quarter. Lynx Investment Advisory lifted its stake in shares of Citizens Financial Group by 2.8% in the second quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock worth $401,000 after buying an additional 243 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Citizens Financial Group by 2.4% in the first 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 last quarter. Old Port Advisors lifted its stake in shares of Citizens Financial Group by 0.9% in the first quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock worth $1,342,000 after buying an additional 296 shares during the last quarter. Finally, REAP Financial Group LLC lifted its stake in shares of Citizens Financial Group by 72.4% in the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after buying an additional 309 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Stephens restated an “overweight” rating and issued a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. Truist Financial reduced their price objective on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Barclays upped their target price on shares of Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 16th. Finally, Keefe, Bruyette & Woods raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.57.

Citizens Financial Group Trading Down 0.6%

Shares of CFG stock opened at $51.86 on Tuesday. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $55.24. The stock has a market cap of $22.37 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 0.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a fifty day moving average of $51.71 and a 200-day moving average of $45.88.

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

Citizens Financial Group Increases Dividend

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

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.