64,037 Shares of Citizens Financial Group, Inc. $CFG Bought by MBL Wealth LLC

MBL Wealth LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 64,037 shares of the bank’s stock, valued at approximately $4,083,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CFG. Compass Wealth Management LLC boosted its holdings in Citizens Financial Group by 52.1% in the 3rd quarter. Compass Wealth Management LLC now owns 16,271 shares of the bank’s stock worth $1,037,000 after buying an additional 5,571 shares during the period. Indiana Trust & Investment Management Co purchased a new position in Citizens Financial Group in the 3rd quarter valued at approximately $938,000. Brookstone Capital Management grew its stake in Citizens Financial Group by 4,764.9% in the 3rd quarter. Brookstone Capital Management now owns 359,956 shares of the bank’s stock valued at $22,951,000 after buying an additional 352,557 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in Citizens Financial Group by 328.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 82,866 shares of the bank’s stock valued at $5,284,000 after buying an additional 63,542 shares in the last quarter. Finally, NBT Bank N.A. purchased a new position in Citizens Financial Group in the 3rd quarter valued at approximately $9,220,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $65.22 on Friday. The company has a 50 day moving average of $67.30 and a 200 day moving average of $67.22. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The stock has a market cap of $27.47 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the company posted $1.05 EPS. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s payout ratio is currently 37.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CFG shares. Citigroup dropped their target price on Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group reduced their price target on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Raymond James Financial reissued a “strong-buy” rating on shares of Citizens Financial Group in a report on Friday, October 16th. Finally, Truist Financial cut their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.