Zurcher Kantonalbank Zurich Cantonalbank Purchases 37,517 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 48.1% during the third quarter, Holdings Channel reports. The institutional investor owned 115,529 shares of the bank’s stock after purchasing an additional 37,517 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Citizens Financial Group were worth $4,745,000 as of its most recent SEC filing.

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

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $47.09 on Tuesday. Citizens Financial Group, Inc. has a 52 week low of $27.97 and a 52 week high of $49.25. The firm’s 50-day simple moving average is $43.66 and its two-hundred day simple moving average is $40.34. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.83 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.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.85 EPS. Citizens Financial Group’s revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.57%. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. DA Davidson lifted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upped 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. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group has a consensus rating of “Hold” and a consensus target price of $45.47.

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.