Channing Capital Management LLC Buys Shares of 141,614 Citizens Financial Group, Inc. $CFG

Channing Capital Management LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, HoldingsChannel reports. The fund purchased 141,614 shares of the bank’s stock, valued at approximately $7,528,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its position in Citizens Financial Group by 891.5% during the third quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock worth $31,000 after acquiring an additional 526 shares during the last quarter. GoalVest Advisory LLC lifted its stake in shares of Citizens Financial Group by 16,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock worth $30,000 after purchasing an additional 676 shares during the period. Capital A Wealth Management LLC boosted its holdings in shares of Citizens Financial Group by 3,970.0% during the second quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock worth $36,000 after purchasing an additional 794 shares during the last quarter. State of Wyoming acquired a new stake in shares of Citizens Financial Group during the second quarter worth $39,000. Finally, Kestra Investment Management LLC grew its position in shares of Citizens Financial Group by 2,703.0% in the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock valued at $41,000 after purchasing an additional 892 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 1.1%

CFG opened at $65.27 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79. The firm has a 50 day moving average price of $62.17 and a 200 day moving average price of $55.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $27.74 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 0.53 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company posted $0.85 earnings per share. Citizens Financial Group’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is currently 47.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CFG shares. Raymond James Financial downgraded Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $62.00 to $66.00 in a research report on Wednesday, January 7th. Royal Bank Of Canada increased their price objective on shares of Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Citigroup raised their target price on shares of Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Truist Financial upped their price target on shares of Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, TD Cowen increased their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.77.

About Citizens Financial Group

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.