Cambria Investment Management L.P. Has $10.06 Million Stake in Citizens Financial Group, Inc. $CFG

Cambria Investment Management L.P. increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1,370.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,308 shares of the bank’s stock after buying an additional 176,431 shares during the period. Cambria Investment Management L.P.’s holdings in Citizens Financial Group were worth $10,064,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CFG. Ninety One UK Ltd bought a new position in Citizens Financial Group in the third quarter valued at approximately $308,946,000. Norges Bank bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $253,423,000. HoldCo Asset Management LP bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $93,361,000. Alyeska Investment Group L.P. acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at $87,173,000. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of Citizens Financial Group by 326.3% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock worth $110,730,000 after purchasing an additional 1,594,326 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays set a $77.00 price objective on Citizens Financial Group and gave the stock an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley increased their target price on Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. TD Cowen raised their target price on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Finally, DA Davidson upped their price target on Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Twenty equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider owned 165,971 shares of the company’s stock, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $56.56 on Thursday. The stock’s fifty day simple moving average is $62.12 and its 200 day simple moving average is $56.74. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $24.04 billion, a PE ratio of 14.62, a PEG ratio of 0.46 and a beta of 0.70. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $68.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Citizens Financial Group’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio (DPR) is 47.55%.

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.