A. D. Beadell Investment Counsel Inc. increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 55.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,615 shares of the bank’s stock after purchasing an additional 38,470 shares during the period. Citizens Financial Group makes up about 3.5% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 4th biggest position. A. D. Beadell Investment Counsel Inc.’s holdings in Citizens Financial Group were worth $4,075,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its stake in Citizens Financial Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock valued at $459,000 after acquiring an additional 33 shares during the period. Smithfield Trust Co. grew its stake in Citizens Financial Group by 1.4% in the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after acquiring an additional 70 shares during the period. First Allied Advisory Services Inc. grew its stake in Citizens Financial Group by 1.1% in the second quarter. First Allied Advisory Services Inc. now owns 7,101 shares of the bank’s stock valued at $250,000 after acquiring an additional 76 shares during the period. Veritable L.P. grew its stake in Citizens Financial Group by 1.2% in the second quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock valued at $229,000 after acquiring an additional 79 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Citizens Financial Group by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the bank’s stock valued at $1,120,000 after acquiring an additional 100 shares during the period. 96.45% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts have commented on the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Citizens Financial Group in a research note on Monday, October 23rd. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday. Barclays PLC raised their price objective on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Bank of America Corporation reissued an “underperform” rating and issued a $40.00 price objective (down previously from $41.00) on shares of Citizens Financial Group in a research note on Monday, October 2nd. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Citizens Financial Group currently has a consensus rating of “Hold” and an average price target of $38.60.
Shares of Citizens Financial Group, Inc. (CFG) traded down 0.16% on Friday, hitting $38.45. The company had a trading volume of 2,464,713 shares. Citizens Financial Group, Inc. has a 52 week low of $25.87 and a 52 week high of $39.75. The stock has a market capitalization of $19.25 billion, a PE ratio of 16.42 and a beta of 1.37. The firm’s 50 day moving average price is $36.70 and its 200-day moving average price is $35.57.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Analysts forecast that Citizens Financial Group, Inc. will post $2.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.87%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 29.15%.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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