Wealth Enhancement Advisory Services LLC Raises Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 35.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,219 shares of the bank's stock after purchasing an additional 27,152 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Citizens Financial Group were worth $4,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of Citizens Financial Group by 21.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,460 shares of the bank's stock valued at $416,000 after acquiring an additional 1,991 shares in the last quarter. Diversified Trust Co raised its holdings in Citizens Financial Group by 5.7% in the 1st quarter. Diversified Trust Co now owns 10,532 shares of the bank's stock valued at $382,000 after acquiring an additional 570 shares during the last quarter. Norden Group LLC acquired a new position in shares of Citizens Financial Group during the 1st quarter worth approximately $786,000. First Trust Direct Indexing L.P. grew its position in shares of Citizens Financial Group by 14.0% in the first quarter. First Trust Direct Indexing L.P. now owns 10,015 shares of the bank's stock valued at $363,000 after purchasing an additional 1,230 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Citizens Financial Group by 2.8% in the first quarter. BNP Paribas Financial Markets now owns 510,183 shares of the bank's stock valued at $18,515,000 after purchasing an additional 14,105 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Down 0.7 %

CFG traded down $0.30 on Friday, reaching $41.82. The company's stock had a trading volume of 3,300,213 shares, compared to its average volume of 5,329,178. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.63 and a beta of 1.07. Citizens Financial Group, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $44.39. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $41.54 and a two-hundred day moving average of $38.53.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, analysts forecast that Citizens Financial Group, Inc. will post 3.19 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.02%. Citizens Financial Group's dividend payout ratio is presently 66.14%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CFG. DA Davidson boosted their target price 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. Evercore ISI lowered their price target on Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating for the company in a research report on Wednesday, October 2nd. Stephens boosted their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, July 19th. Keefe, Bruyette & Woods lifted their target price on 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, Morgan Stanley raised their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.80.

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.