Geode Capital Management LLC Acquires 23,007 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Geode Capital Management LLC raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,804,731 shares of the bank's stock after acquiring an additional 23,007 shares during the period. Geode Capital Management LLC owned about 2.45% of Citizens Financial Group worth $442,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CFG. Costello Asset Management INC purchased a new stake in Citizens Financial Group during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in shares of Citizens Financial Group in the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC purchased a new position in shares of Citizens Financial Group in the third quarter worth $28,000. Innealta Capital LLC purchased a new position in shares of Citizens Financial Group in the second quarter worth $25,000. Finally, Private Ocean LLC raised its holdings in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank's stock valued at $36,000 after buying an additional 838 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CFG has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Citigroup boosted their price target on Citizens Financial Group from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $46.00 to $53.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Citizens Financial Group from $48.00 to $59.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised Citizens Financial Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.94.

Citizens Financial Group Stock Up 0.4 %

Shares of NYSE CFG traded up $0.16 on Friday, reaching $45.70. 4,833,038 shares of the company's stock traded hands, compared to its average volume of 5,183,929. The business's 50 day simple moving average is $44.71 and its two-hundred day simple moving average is $40.97. Citizens Financial Group, Inc. has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $0.85 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group's dividend payout ratio is presently 66.14%.

About Citizens Financial Group

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.