iA Global Asset Management Inc. Makes New Investment in Citizens Financial Group, Inc. $CFG

by · The Cerbat Gem

iA Global Asset Management Inc. acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,657 shares of the bank’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Investors Research Corp increased its holdings in Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after purchasing an additional 500 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Citizens Financial Group by 177.5% in the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after acquiring an additional 410 shares during the last quarter. GoalVest Advisory LLC increased its holdings in shares of Citizens Financial Group by 16,900.0% in the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after acquiring an additional 676 shares during the last quarter. REAP Financial Group LLC increased its holdings in shares of Citizens Financial Group by 72.4% in the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after acquiring an additional 309 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Citizens Financial Group by 143.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after acquiring an additional 634 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Down 0.6%

NYSE:CFG opened at $50.71 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $55.24. The business has a 50 day simple moving average of $51.84 and a 200 day simple moving average of $46.61. The firm has a market capitalization of $21.87 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.54 and a beta of 0.82.

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

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be given 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 is Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a yield of 3.6%. Citizens Financial Group’s payout ratio is presently 51.54%.

Analyst Ratings Changes

CFG has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $59.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Citizens Financial Group in a report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on Citizens Financial Group in a report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price target for the company. Citigroup boosted their price target on Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Wall Street Zen upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.57.

Get Our Latest Research Report on Citizens Financial Group

Citizens Financial Group Profile

(Free Report)

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.

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