Pitcairn Co. Acquires 538 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Pitcairn Co. increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 2.5% in the third quarter, HoldingsChannel reports. The firm owned 22,261 shares of the bank’s stock after purchasing an additional 538 shares during the period. Pitcairn Co.’s holdings in Citizens Financial Group were worth $914,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Citizens Financial Group during the second quarter valued at about $25,000. Costello Asset Management INC acquired a new position in Citizens Financial Group in the third quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group in the third quarter worth about $27,000. Catalyst Capital Advisors LLC acquired a new position in Citizens Financial Group in the third quarter worth about $28,000. Finally, Versant Capital Management Inc raised its position in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after purchasing an additional 678 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $47.65 on Monday. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.78 and a beta of 1.07. 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 company has a 50-day simple moving average of $42.83 and a 200 day simple moving average of $39.84. Citizens Financial Group, Inc. has a 52 week low of $26.13 and a 52 week high of $48.35.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate 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 was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

CFG has been the subject of several recent research reports. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Citigroup increased their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson raised their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI cut their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Citizens Financial Group currently has an average rating of “Hold” and a consensus target price of $44.80.

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.