Mackenzie Financial Corp Purchases 85,922 Shares of Citizens Financial Group, Inc. $CFG

Mackenzie Financial Corp raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 92.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,816 shares of the bank’s stock after buying an additional 85,922 shares during the quarter. Mackenzie Financial Corp’s holdings in Citizens Financial Group were worth $8,002,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in shares of Citizens Financial Group by 3.4% in the first quarter. LPL Financial LLC now owns 405,797 shares of the bank’s stock valued at $16,626,000 after acquiring an additional 13,380 shares in the last quarter. US Bancorp DE raised its stake in Citizens Financial Group by 2.8% in the 1st quarter. US Bancorp DE now owns 33,311 shares of the bank’s stock worth $1,365,000 after purchasing an additional 913 shares in the last quarter. Factorial Partners LLC boosted its holdings in Citizens Financial Group by 1.1% in the 1st quarter. Factorial Partners LLC now owns 80,900 shares of the bank’s stock valued at $3,314,000 after purchasing an additional 900 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Citizens Financial Group during the 1st quarter worth approximately $208,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after purchasing an additional 634 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.1%

Shares of CFG stock opened at $54.65 on Wednesday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $55.24. The stock’s fifty day moving average price is $51.94 and its two-hundred day moving average price is $48.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $23.47 billion, a PE ratio of 15.31, a P/E/G ratio of 0.58 and a beta of 0.74.

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

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.54%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CFG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Citizens Financial Group in a research note on Monday. Barclays lifted their price objective on Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 16th. Raymond James Financial set a $62.00 target price on Citizens Financial Group and gave the company a “strong-buy” rating in a research report on Tuesday, October 7th. Stephens restated an “overweight” rating and issued a $60.00 price target on shares of Citizens Financial Group in a research report on Thursday, October 16th. Finally, Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $56.57.

Citizens Financial Group Company 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.