Citizens Financial Group, Inc. (NYSE:CFG) Shares Purchased by Zacks Investment Management

Zacks Investment Management lifted its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 604,946 shares of the bank's stock after purchasing an additional 19,840 shares during the quarter. Zacks Investment Management owned approximately 0.14% of Citizens Financial Group worth $24,845,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CFG. Costello Asset Management INC purchased a new stake in Citizens Financial Group in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group in the 3rd quarter valued at about $27,000. Catalyst Capital Advisors LLC acquired a new stake in Citizens Financial Group during the 3rd quarter worth approximately $28,000. Innealta Capital LLC acquired a new stake in Citizens Financial Group during the 2nd quarter worth approximately $25,000. Finally, Private Ocean LLC grew its stake in shares of Citizens Financial Group by 484.4% in the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank's stock valued at $36,000 after purchasing an additional 838 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

Citizens Financial Group stock traded up $0.26 during trading hours on Friday, hitting $47.03. The stock had a trading volume of 2,616,730 shares, compared to its average volume of 3,391,519. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a 1-year low of $28.77 and a 1-year high of $49.25. The stock's fifty day moving average is $44.16 and its two-hundred day moving average is $40.63.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm posted $0.85 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.57%. Citizens Financial Group's dividend payout ratio is currently 66.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CFG shares. Piper Sandler increased their price target on Citizens Financial Group from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $46.00 to $53.00 and gave the company a "market perform" rating in a report on Wednesday. DA Davidson increased their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.27.

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.