Citizens Financial Group, Inc. $CFG Shares Acquired by Lincoln Capital Corp

Lincoln Capital Corp raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 258.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,853 shares of the bank’s stock after acquiring an additional 13,597 shares during the period. Lincoln Capital Corp’s holdings in Citizens Financial Group were worth $1,202,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Elevation Wealth Partners LLC grew its stake in shares of Citizens Financial Group by 319.8% in 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 period. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group during the first quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. bought a new position in Citizens Financial Group during the second quarter valued at approximately $35,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group in the fourth quarter worth approximately $29,000. Finally, Virtus Advisers LLC purchased a new stake in Citizens Financial Group in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Stock Performance

CFG stock traded down $0.54 during midday trading on Tuesday, reaching $63.36. 3,757,344 shares of the company’s stock traded hands, compared to its average volume of 4,596,787. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33. The stock has a market cap of $26.69 billion, a P/E ratio of 13.74, a PEG ratio of 0.58 and a beta of 0.72. The stock’s 50-day moving average is $68.62 and its 200 day moving average is $67.00.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company posted $0.92 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 5.29 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 39.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CFG shares. Evercore reaffirmed an “outperform” rating and issued a $78.00 target price on shares of Citizens Financial Group in a research report on Thursday, October 1st. Jefferies Financial Group increased their price target on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 16th. UBS Group dropped their price target on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. JPMorgan Chase & Co. cut their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a report on Friday, October 2nd. Finally, Stephens upped their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $79.38.

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 individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.