Cambridge Investment Research Advisors Inc. increased its stake in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 18.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,086 shares of the bank’s stock after buying an additional 19,640 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Citizens Financial Group were worth $3,288,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Heritage Wealth Management LLC increased its stake in Citizens Financial Group by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock worth $25,000 after purchasing an additional 323 shares during the period. Asset Dedication LLC increased its stake in shares of Citizens Financial Group by 155.2% during the first quarter. Asset Dedication LLC now owns 809 shares of the bank’s stock valued at $25,000 after buying an additional 492 shares during the period. Resurgent Financial Advisors LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at $28,000. Clear Street Markets LLC increased its stake in shares of Citizens Financial Group by 93.6% during the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after buying an additional 466 shares during the period. Finally, Grey Fox Wealth Advisors LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at $34,000. 92.67% of the stock is currently owned by institutional investors.
Citizens Financial Group Stock Down 0.8 %
Shares of Citizens Financial Group stock opened at $25.77 on Thursday. The company has a market cap of $12.17 billion, a P/E ratio of 5.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.90 and a current ratio of 0.91. Citizens Financial Group, Inc. has a one year low of $23.37 and a one year high of $44.82. The firm has a fifty day moving average of $28.99 and a two-hundred day moving average of $28.43.
Citizens Financial Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.52%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 38.18%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CFG. Stephens reiterated an “overweight” rating and issued a $36.00 target price on shares of Citizens Financial Group in a report on Friday, September 8th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. The Goldman Sachs Group upped their target price on Citizens Financial Group from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. JPMorgan Chase & Co. downgraded Citizens Financial Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $27.00 in a research note on Thursday, June 29th. Finally, Royal Bank of Canada reduced their price objective on Citizens Financial Group from $37.00 to $33.00 and set an “outperform” rating for the company in a research note on Tuesday, September 12th. Seven 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 presently has a consensus rating of “Moderate Buy” and an average target price of $34.94.
Check Out Our Latest Analysis on Citizens Financial Group
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.
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