Cwm LLC Purchases 23,624 Shares of Citizens Financial Group, Inc. $CFG

Cwm LLC grew its position in Citizens Financial Group, Inc. (NYSE:CFG) by 30.8% during the third quarter, HoldingsChannel reports. The firm owned 100,319 shares of the bank’s stock after buying an additional 23,624 shares during the period. Cwm LLC’s holdings in Citizens Financial Group were worth $5,333,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Citizens Financial Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock valued at $2,306,817,000 after acquiring an additional 209,467 shares during the last quarter. Invesco Ltd. lifted its stake in shares of 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 purchasing an additional 283,321 shares during the period. AQR Capital Management LLC lifted its stake in shares of Citizens Financial Group by 19.1% in the 1st quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock valued at $294,007,000 after purchasing an additional 1,180,390 shares during the period. Royal Bank of Canada grew its stake in Citizens Financial Group by 8.9% during the first quarter. Royal Bank of Canada now owns 6,801,856 shares of the bank’s stock worth $278,672,000 after purchasing an additional 554,618 shares during the period. Finally, LSV Asset Management grew its stake in Citizens Financial Group by 14.5% during the second quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock worth $293,685,000 after purchasing an additional 833,399 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

CFG stock opened at $58.93 on Wednesday. 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 business has a 50-day simple moving average of $54.44 and a two-hundred day simple moving average of $51.04. The company has a market capitalization of $25.31 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.63 and a beta of 0.73. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $60.10.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. Research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.1%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio is presently 51.54%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CFG. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $53.00 to $71.00 in a report on Monday, September 29th. Baird R W lowered Citizens Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 16th. Cowen reiterated a “buy” rating on shares of Citizens Financial Group in a report on Monday, December 1st. Finally, UBS Group boosted their price objective on Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.57.

Citizens Financial Group Profile

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.