Causeway Capital Management LLC Buys 57,086 Shares of Citizens Financial Group, Inc. $CFG

Causeway Capital Management LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,090,060 shares of the bank’s stock after acquiring an additional 57,086 shares during the period. Citizens Financial Group accounts for about 0.8% of Causeway Capital Management LLC’s portfolio, making the stock its 26th largest position. Causeway Capital Management LLC’s holdings in Citizens Financial Group were worth $57,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in Citizens Financial Group by 25.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock valued at $36,553,000 after buying an additional 140,641 shares in the last quarter. Channing Capital Management LLC acquired a new position in shares of Citizens Financial Group during the third quarter worth approximately $7,528,000. National Pension Service increased its holdings in Citizens Financial Group by 33.5% during the 3rd quarter. National Pension Service now owns 135,208 shares of the bank’s stock worth $7,188,000 after purchasing an additional 33,923 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Citizens Financial Group by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after buying an additional 129,995 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Citizens Financial Group by 5.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock valued at $38,315,000 after buying an additional 42,971 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CFG has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. upped their price objective on shares of Citizens Financial Group from $62.50 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Bank of America lifted their target price on shares of Citizens Financial Group from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, New Street Research set a $73.00 target price on Citizens Financial Group in a research report on Thursday, January 22nd. Twenty investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.95.

Citizens Financial Group Trading Up 0.3%

Shares of Citizens Financial Group stock opened at $58.19 on Tuesday. The company’s 50-day moving average price is $62.51 and its 200-day moving average price is $56.50. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.47 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $68.79.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $0.85 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio is 47.55%.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.