Paloma Partners Management Co Buys New Shares in Citizens Financial Group, Inc. (NYSE:CFG)

Paloma Partners Management Co purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,645 shares of the bank's stock, valued at approximately $971,000.

Other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the second quarter valued at about $25,000. Costello Asset Management INC purchased a new stake in Citizens Financial Group during the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Citizens Financial Group during the 3rd quarter worth approximately $27,000. Catalyst Capital Advisors LLC purchased a new position in shares of Citizens Financial Group in the 3rd quarter valued at approximately $28,000. Finally, Versant Capital Management Inc grew its stake in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded down $0.30 on Tuesday, hitting $46.78. The company's stock had a trading volume of 3,542,948 shares, compared to its average volume of 3,803,779. 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 firm has a fifty day moving average price of $43.78 and a 200-day moving average price of $40.41. Citizens Financial Group, Inc. has a 52-week low of $27.97 and a 52-week high of $49.25. The company has a market capitalization of $20.62 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.79 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The company's quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal 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 issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.59%. Citizens Financial Group's dividend payout ratio (DPR) is 66.14%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CFG. Citigroup increased their price target on Citizens Financial Group from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Morgan Stanley raised their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. 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 note on Tuesday, November 26th. StockNews.com upgraded shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Finally, Barclays boosted their target price on Citizens Financial Group from $40.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $45.80.

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.