Claro Advisors LLC Invests $362,000 in Citizens Financial Group, Inc. (NYSE:CFG)

Claro Advisors LLC bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,819 shares of the bank’s stock, valued at approximately $362,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC raised its stake in Citizens Financial Group by 729.5% during the third quarter. Mizuho Securities USA LLC now owns 291,030 shares of the bank’s stock valued at $11,953,000 after purchasing an additional 255,945 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Citizens Financial Group by 8.4% in the 3rd quarter. Empowered Funds LLC now owns 7,487 shares of the bank’s stock worth $307,000 after buying an additional 579 shares during the last quarter. Empirical Finance LLC raised its position in shares of Citizens Financial Group by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 16,076 shares of the bank’s stock valued at $660,000 after buying an additional 330 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Citizens Financial Group by 6.9% in the 3rd quarter. CIBC Asset Management Inc now owns 66,839 shares of the bank’s stock valued at $2,745,000 after acquiring an additional 4,330 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in Citizens Financial Group in the third quarter worth about $232,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $46.57 on Tuesday. 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 market capitalization of $20.52 billion, a PE ratio of 18.33, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a 50 day moving average price of $42.29 and a 200-day moving average price of $39.53. Citizens Financial Group, Inc. has a fifty-two week low of $26.13 and a fifty-two week high of $48.35.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CFG. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Evercore ISI lowered their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley lifted their price target 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 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.

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.