Dynamic Technology Lab Private Ltd Buys Shares of 93,421 Citizens Financial Group, Inc. (NYSE:CFG)

Dynamic Technology Lab Private Ltd purchased a new position 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 purchased 93,421 shares of the bank’s stock, valued at approximately $3,837,000. Citizens Financial Group accounts for 0.4% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commerce Bank boosted its stake in Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after buying an additional 250 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in shares of Citizens Financial Group by 12.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock worth $84,000 after acquiring an additional 264 shares during the last quarter. ZWJ Investment Counsel Inc. increased its holdings in Citizens Financial Group by 0.3% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock valued at $3,648,000 after purchasing an additional 308 shares during the last quarter. Empirical Finance LLC raised its position in Citizens Financial Group by 2.1% in the third quarter. Empirical Finance LLC now owns 16,076 shares of the bank’s stock valued at $660,000 after purchasing an additional 330 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its stake in Citizens Financial Group by 11.5% during the second quarter. Abich Financial Wealth Management LLC now owns 3,250 shares of the bank’s stock worth $117,000 after purchasing an additional 334 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of research reports. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley boosted 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. Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, 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 research note on Thursday. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.80.

Citizens Financial Group Trading Up 1.9 %

NYSE:CFG opened at $47.65 on Monday. Citizens Financial Group, Inc. has a 1 year low of $26.13 and a 1 year high of $48.35. The stock has a market cap of $21.00 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.81 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 stock has a 50-day simple moving average of $42.83 and a 200-day simple moving average of $39.84.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

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

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.