58,016 Shares in Citizens Financial Group, Inc. $CFG Purchased by Meritage Portfolio Management

by · The Markets Daily

Meritage Portfolio Management acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) in the 3rd quarter, HoldingsChannel reports. The firm acquired 58,016 shares of the bank’s stock, valued at approximately $3,084,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Citizens Financial Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock worth $2,306,817,000 after purchasing an additional 209,467 shares during the last quarter. Invesco Ltd. increased its stake in Citizens Financial Group by 1.2% in the 2nd quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock valued at $1,059,293,000 after buying an additional 283,321 shares during the period. Nordea Investment Management AB increased its stake in Citizens Financial Group by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,715,372 shares of the bank’s stock valued at $353,430,000 after buying an additional 315,467 shares during the period. LSV Asset Management raised its position in Citizens Financial Group by 14.5% during the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock worth $293,685,000 after buying an additional 833,399 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Citizens Financial Group in the third quarter valued at about $308,946,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CFG shares. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Bank of America raised Citizens Financial Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $65.00 in a research note on Thursday, October 9th. Cowen reissued a “buy” rating on shares of Citizens Financial Group in a report on Monday, December 1st. Citigroup raised Citizens Financial Group from a “neutral” rating to an “overweight” rating in a report on Monday, January 5th. Finally, Raymond James Financial cut Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $62.00 to $66.00 in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Check Out Our Latest Research Report on Citizens Financial Group

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $60.58 on Friday. The stock has a fifty day moving average price of $56.63 and a 200 day moving average price of $52.41. 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 stock has a market cap of $26.02 billion, a PE ratio of 16.97, a P/E/G ratio of 0.52 and a beta of 0.72. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $62.16.

Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

About Citizens Financial Group

(Free Report)

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.

Further Reading

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