Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,074 shares of the bank’s stock after acquiring an additional 2,590 shares during the period. State of Alaska Department of Revenue’s holdings in Citizens Financial Group were worth $2,138,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Diversified Trust Co increased its holdings in Citizens Financial Group by 5.7% during the 1st quarter. Diversified Trust Co now owns 10,532 shares of the bank’s stock worth $382,000 after purchasing an additional 570 shares during the last quarter. Norden Group LLC bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $786,000. First Trust Direct Indexing L.P. increased its position in shares of Citizens Financial Group by 14.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,015 shares of the bank’s stock valued at $363,000 after purchasing an additional 1,230 shares during the period. BNP Paribas Financial Markets raised its position in Citizens Financial Group by 2.8% in the first quarter. BNP Paribas Financial Markets now owns 510,183 shares of the bank’s stock worth $18,515,000 after acquiring an additional 14,105 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Citizens Financial Group by 1.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 127,285 shares of the bank’s stock worth $4,619,000 after purchasing an additional 2,003 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 0.7 %

Shares of CFG opened at $41.82 on Friday. The business’s fifty day moving average is $41.52 and its 200-day moving average is $38.59. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.63 and a beta of 1.07. Citizens Financial Group, Inc. has a 52-week low of $23.50 and a 52-week high of $44.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities analysts anticipate that Citizens Financial Group, Inc. will post 3.19 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Analyst Ratings Changes

A number of brokerages have issued reports on CFG. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Stephens lifted their price target on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. UBS Group boosted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays increased their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, DA Davidson lifted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.80.

About Citizens Financial Group

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.