Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 46.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,173 shares of the bank’s stock after buying an additional 6,989 shares during the quarter. Apollon Wealth Management LLC’s holdings in Citizens Financial Group were worth $911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Costello Asset Management INC acquired a new stake in shares of Citizens Financial Group during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Citizens Financial Group during the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group during the third quarter worth approximately $28,000. Innealta Capital LLC acquired a new position in Citizens Financial Group in the second quarter worth $25,000. Finally, Versant Capital Management Inc boosted its holdings in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after purchasing an additional 678 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $46.77 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $26.13 and a fifty-two week high of $48.35. The firm’s 50-day simple moving average is $42.07 and its 200 day simple moving average is $39.30. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.61 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.77 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business earned $0.85 earnings per share. Citizens Financial Group’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts expect that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CFG shares. Piper Sandler lifted their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Evercore ISI decreased their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Finally, Barclays raised their target price on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.80.

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.