Connable Office Inc. Purchases 1,974 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Connable Office Inc. boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,886 shares of the bank’s stock after acquiring an additional 1,974 shares during the quarter. Connable Office Inc.’s holdings in Citizens Financial Group were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CFG. Mirae Asset Global Investments Co. Ltd. increased its stake in Citizens Financial Group by 39.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,279 shares of the bank’s stock valued at $1,235,000 after acquiring an additional 8,579 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Citizens Financial Group by 35.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 104,219 shares of the bank’s stock valued at $4,280,000 after buying an additional 27,152 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Citizens Financial Group by 5.2% during the third quarter. State of Alaska Department of Revenue now owns 52,074 shares of the bank’s stock valued at $2,138,000 after buying an additional 2,590 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Citizens Financial Group by 20.7% during the third quarter. First Trust Direct Indexing L.P. now owns 15,010 shares of the bank’s stock valued at $616,000 after buying an additional 2,579 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Citizens Financial Group by 2.1% during the third quarter. US Bancorp DE now owns 32,324 shares of the bank’s stock valued at $1,328,000 after buying an additional 654 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $45.75 on Friday. The stock’s 50 day simple moving average is $45.90 and its two-hundred day simple moving average is $44.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.81 and a beta of 1.10. Citizens Financial Group, Inc. has a fifty-two week low of $30.54 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.67%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CFG shares. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Barclays raised their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup increased their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Citizens Financial Group 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.