Citizens Financial Group, Inc. $CFG Position Raised by Abel Hall LLC

Abel Hall LLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 908.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 47,924 shares of the bank’s stock after buying an additional 43,171 shares during the quarter. Citizens Financial Group makes up about 0.5% of Abel Hall LLC’s investment portfolio, making the stock its 25th largest holding. Abel Hall LLC’s holdings in Citizens Financial Group were worth $3,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CFG. Elevation Wealth Partners LLC grew its position in shares of Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after acquiring an additional 323 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in Citizens Financial Group during the 1st quarter valued at about $27,000. Keating Financial Advisory Services Inc. acquired a new position in Citizens Financial Group during the 2nd quarter valued at about $35,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group during the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC bought a new position in Citizens Financial Group in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CFG shares. TD Cowen began coverage on shares of Citizens Financial Group in a research note on Thursday, October 8th. They issued a “buy” rating and a $75.00 price target on the stock. Truist Financial reduced their price objective on Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating for the company in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. reduced their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research report on Friday, October 2nd. UBS Group decreased their price objective on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Jefferies Financial Group raised their target price on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.58.

Citizens Financial Group Price Performance

CFG stock traded down $0.66 during trading on Monday, hitting $62.70. The company had a trading volume of 7,835,547 shares, compared to its average volume of 4,635,413. The business has a 50 day moving average of $68.03 and a 200 day moving average of $67.11. The firm has a market capitalization of $26.41 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 0.58 and a beta of 0.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $75.33.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.02%.

Citizens Financial Group 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.