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

Daiwa Securities Group Inc. raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 10.8% in the 3rd quarter, Holdings Channel reports. The firm owned 55,044 shares of the bank’s stock after acquiring an additional 5,383 shares during the period. Daiwa Securities Group Inc.’s holdings in Citizens Financial Group were worth $2,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CFG. LSV Asset Management increased its position in shares of Citizens Financial Group by 1.8% during the second quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock worth $237,106,000 after acquiring an additional 113,300 shares during the period. Dimensional Fund Advisors LP boosted its stake in Citizens Financial Group by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after acquiring an additional 587,115 shares in the last quarter. AQR Capital Management LLC boosted its stake in Citizens Financial Group by 61.4% in the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after acquiring an additional 1,682,886 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Citizens Financial Group by 1.7% in the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock valued at $99,448,000 after acquiring an additional 45,038 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Citizens Financial Group by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock valued at $83,933,000 after acquiring an additional 942,662 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG opened at $48.16 on Friday. Citizens Financial Group, Inc. has a 1 year low of $26.13 and a 1 year high of $49.25. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a fifty day moving average of $43.41 and a 200-day moving average of $40.13.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.49%. Citizens Financial Group’s payout ratio is presently 66.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CFG shares. Citigroup lifted their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Finally, Evercore ISI dropped their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and an average price target of $45.47.

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.