D.A. Davidson & CO. Acquires Shares of 5,093 Citizens Financial Group, Inc. (NYSE:CFG)

D.A. Davidson & CO. acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,093 shares of the bank’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in Citizens Financial Group by 1.8% in the second quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after buying an additional 113,300 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 587,115 shares during the period. AQR Capital Management LLC grew its position in shares of 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 purchasing an additional 1,682,886 shares during the period. Hsbc Holdings PLC grew its position in shares of 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 purchasing an additional 45,038 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock valued at $107,897,000 after purchasing an additional 894,322 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

CFG has been the topic of several research analyst reports. Piper Sandler lifted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Citizens Financial Group has a consensus rating of “Hold” and a consensus target price of $46.27.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $46.60 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.79 and a beta of 1.08. The company’s 50-day moving average is $43.91 and its two-hundred day moving average is $40.45. Citizens Financial Group, Inc. has a 1-year low of $28.19 and a 1-year high of $49.25.

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, meeting the consensus estimate of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

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.