Daiwa Securities Group Inc. Acquires 5,383 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Daiwa Securities Group Inc. grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,044 shares of the bank’s stock after purchasing an additional 5,383 shares during the period. Daiwa Securities Group Inc.’s holdings in Citizens Financial Group were worth $2,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CFG. Comerica Bank increased its stake in shares of Citizens Financial Group by 57.9% in the 1st quarter. Comerica Bank now owns 296,454 shares of the bank’s stock valued at $10,758,000 after purchasing an additional 108,712 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Citizens Financial Group during the 1st quarter valued at $119,000. Swedbank AB acquired a new stake in shares of Citizens Financial Group during the 1st quarter valued at $12,263,000. Atria Investments Inc boosted its holdings in shares of Citizens Financial Group by 21.5% during the 1st quarter. Atria Investments Inc now owns 37,702 shares of the bank’s stock valued at $1,368,000 after acquiring an additional 6,681 shares in the last quarter. Finally, PGGM Investments acquired a new stake in shares of Citizens Financial Group during the 1st quarter valued at $1,331,000. Institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Citigroup raised their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada raised their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays raised their price objective 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. Finally, Morgan Stanley raised their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.47.

Citizens Financial Group Stock Up 0.1 %

CFG opened at $48.16 on Friday. The business’s fifty day simple moving average is $43.41 and its 200 day simple moving average is $40.13. Citizens Financial Group, Inc. has a 52 week low of $26.13 and a 52 week high of $49.25. The stock has a market cap of $21.22 billion, a PE ratio of 18.96, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $0.85 earnings per share. Citizens Financial Group’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 66.14%.

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.