TD Waterhouse Canada Inc. Has $1.72 Million Stock Position in Citizens Financial Group, Inc. $CFG

TD Waterhouse Canada Inc. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,361 shares of the bank’s stock after selling 2,726 shares during the period. TD Waterhouse Canada Inc.’s holdings in Citizens Financial Group were worth $1,723,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in CFG. Assetmark Inc. increased its position in shares of Citizens Financial Group by 11,167.0% during the 1st quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock worth $55,209,000 after purchasing an additional 1,335,577 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 19.1% in the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock valued at $294,007,000 after buying an additional 1,180,390 shares in the last quarter. Nordea Investment Management AB increased its holdings in Citizens Financial Group by 20.7% during 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 during the last quarter. Swedbank AB increased its holdings in Citizens Financial Group by 291.5% during the second quarter. Swedbank AB now owns 1,352,458 shares of the bank’s stock worth $60,522,000 after buying an additional 1,006,999 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in Citizens Financial Group during the first quarter worth $38,915,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. 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. Stephens reissued an “overweight” rating and set a $60.00 price target on shares of Citizens Financial Group in a research report on Thursday, October 16th. Truist Financial dropped their price objective on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Finally, Cantor Fitzgerald assumed coverage on Citizens Financial Group in a research note on Wednesday, September 10th. They set an “overweight” rating and a $61.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $56.57.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $52.31 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $22.47 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.54 and a beta of 0.82. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $55.24. The company has a 50-day simple moving average of $51.72 and a two-hundred day simple moving average of $47.78.

Citizens Financial Group (NYSE:CFG) last announced 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. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were paid a dividend of $0.46 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a yield of 3.5%. Citizens Financial Group’s dividend payout ratio is 51.54%.

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.