Castine Capital Management LLC grew its position in Citizens Financial Group Inc (NYSE:CFG) by 98.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,000 shares of the bank’s stock after purchasing an additional 116,785 shares during the quarter. Citizens Financial Group comprises approximately 3.3% of Castine Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Castine Capital Management LLC’s holdings in Citizens Financial Group were worth $8,900,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. boosted its position in shares of Citizens Financial Group by 11.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,061,969 shares of the bank’s stock worth $40,004,000 after purchasing an additional 105,419 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Citizens Financial Group by 2.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 541,603 shares of the bank’s stock worth $20,511,000 after purchasing an additional 15,267 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Citizens Financial Group by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 76,704 shares of the bank’s stock worth $2,905,000 after purchasing an additional 3,726 shares during the period. EJF Capital LLC boosted its position in shares of Citizens Financial Group by 11.8% during the 3rd quarter. EJF Capital LLC now owns 1,355,000 shares of the bank’s stock worth $51,314,000 after purchasing an additional 142,500 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Citizens Financial Group by 2.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 107,830 shares of the bank’s stock worth $4,101,000 after buying an additional 2,200 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.
Shares of Citizens Financial Group Inc (NYSE:CFG) traded down $0.26 on Thursday, reaching $40.63. 4,265,100 shares of the company were exchanged, compared to its average volume of 4,747,289. Citizens Financial Group Inc has a 12-month low of $31.51 and a 12-month high of $42.52. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of $20,117.53, a price-to-earnings ratio of 16.56, a PEG ratio of 1.04 and a beta of 1.37.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, October 31st. Citizens Financial Group’s payout ratio is presently 29.15%.
In other news, Director Wendy A. Watson sold 4,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $40.31, for a total value of $161,240.00. Following the sale, the director now owns 12,917 shares in the company, valued at $520,684.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.
A number of equities research analysts have issued reports on CFG shares. Keefe, Bruyette & Woods set a $40.00 target price on shares of Citizens Financial Group and gave the stock a “buy” rating in a report on Friday, August 11th. BidaskClub downgraded shares of Citizens Financial Group from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Tuesday, September 12th. Sanford C. Bernstein raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $36.00 target price (up previously from $34.00) on shares of Citizens Financial Group in a report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.23.
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Citizens Financial Group Profile
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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