Vontobel Holding Ltd. Boosts Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Vontobel Holding Ltd. raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 124.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,897 shares of the bank’s stock after buying an additional 8,262 shares during the quarter. Vontobel Holding Ltd.’s holdings in Citizens Financial Group were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Citizens Financial Group by 35.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock valued at $2,838,000 after acquiring an additional 20,649 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Citizens Financial Group by 101.6% during the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after purchasing an additional 383,947 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Citizens Financial Group in the first quarter worth about $1,180,000. SG Americas Securities LLC increased its holdings in shares of Citizens Financial Group by 642.6% in the first quarter. SG Americas Securities LLC now owns 272,676 shares of the bank’s stock worth $9,895,000 after purchasing an additional 235,958 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in shares of Citizens Financial Group by 1,045.4% in the first quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank’s stock worth $932,000 after buying an additional 23,449 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of several research analyst reports. Barclays raised their price target on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Evercore ISI decreased their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.80.

Citizens Financial Group Trading Down 3.3 %

Shares of CFG opened at $41.06 on Tuesday. The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $44.39. The company has a 50-day moving average of $41.36 and a 200 day moving average of $38.14.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.22 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s payout ratio is 60.87%.

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.