Versor Investments LP Takes $1.91 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

Versor Investments LP purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,500 shares of the bank's stock, valued at approximately $1,910,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CFG. Costello Asset Management INC bought a new position in shares of Citizens Financial Group during the third quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in Citizens Financial Group in the third quarter worth $27,000. Catalyst Capital Advisors LLC purchased a new position in Citizens Financial Group during the third quarter valued at $28,000. Innealta Capital LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $25,000. Finally, Versant Capital Management Inc grew its position 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 worth $34,000 after buying an additional 678 shares during the period. Institutional investors own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of analyst reports. UBS Group boosted their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Barclays raised their price target 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. Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an "equal weight" rating in a report on Monday, August 5th. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $42.00 to $46.00 and gave the company a "market perform" rating in a research note on Monday, September 30th. Finally, Piper Sandler boosted their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Citizens Financial Group currently has a consensus rating of "Hold" and an average target price of $43.80.

Citizens Financial Group Price Performance

Shares of NYSE CFG traded up $0.67 during midday trading on Monday, reaching $46.48. The stock had a trading volume of 4,153,401 shares, compared to its average volume of 5,343,401. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a 50-day moving average of $41.73 and a 200-day moving average of $39.04. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 1.75 and a beta of 1.07. Citizens Financial Group, Inc. has a 12-month low of $24.73 and a 12-month high of $48.35.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts' consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group's payout ratio is 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.