Geode Capital Management LLC Purchases 12,910 Shares of Citizens Financial Group, Inc. $CFG

Geode Capital Management LLC boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 0.1% in the second quarter, Holdings Channel.com reports. The firm owned 11,261,518 shares of the bank’s stock after buying an additional 12,910 shares during the quarter. Geode Capital Management LLC’s holdings in Citizens Financial Group were worth $501,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CFG. Dynamic Technology Lab Private Ltd purchased a new position in shares of Citizens Financial Group in the 1st quarter worth about $3,177,000. Nordea Investment Management AB lifted its stake in shares of Citizens Financial Group by 20.7% in the second quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock worth $287,932,000 after buying an additional 1,098,684 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Citizens Financial Group by 78.7% in the second quarter. Pinnacle Associates Ltd. now owns 19,735 shares of the bank’s stock worth $883,000 after buying an additional 8,693 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Citizens Financial Group by 5.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock valued at $38,315,000 after acquiring an additional 42,971 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC raised its holdings in Citizens Financial Group by 1,309.3% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 24,649 shares of the bank’s stock worth $1,103,000 after acquiring an additional 22,900 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

NYSE:CFG opened at $51.74 on Friday. The business’s 50-day simple moving average is $51.81 and its two-hundred day simple moving average is $47.33. 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 $22.22 billion, a PE ratio of 14.49, a P/E/G ratio of 0.55 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were given a $0.46 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 51.54%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $53.00 to $71.00 in a research report on Monday, September 29th. Wall Street Zen raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Raymond James Financial set a $62.00 target price on shares of Citizens Financial Group and gave the company a “strong-buy” rating in a research note on Tuesday, October 7th. Cantor Fitzgerald started coverage on shares of Citizens Financial Group in a report on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price objective for the company. Finally, Stephens restated an “overweight” rating and set a $60.00 price objective on shares of Citizens Financial Group in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $56.57.

Citizens Financial Group Profile

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.