Victory Capital Management Inc. increased its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 277.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,203 shares of the bank’s stock after purchasing an additional 274,441 shares during the quarter. Victory Capital Management Inc.’s holdings in Citizens Financial Group were worth $12,129,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RKL Wealth Management LLC raised its holdings in Citizens Financial Group by 0.9% in the fourth quarter. RKL Wealth Management LLC now owns 33,064 shares of the bank’s stock worth $980,000 after purchasing an additional 310 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Citizens Financial Group by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,820 shares of the bank’s stock valued at $2,552,000 after purchasing an additional 339 shares during the last quarter. Huntington National Bank increased its holdings in Citizens Financial Group by 19.1% during the first quarter. Huntington National Bank now owns 2,149 shares of the bank’s stock worth $70,000 after buying an additional 345 shares during the last quarter. CWM LLC increased its holdings in Citizens Financial Group by 29.3% during the fourth quarter. CWM LLC now owns 1,536 shares of the bank’s stock worth $46,000 after buying an additional 348 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Citizens Financial Group by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 21,187 shares of the bank’s stock worth $630,000 after buying an additional 373 shares during the last quarter. 98.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of CFG stock traded up $0.35 during trading hours on Tuesday, reaching $35.20. 61,308 shares of the company’s stock were exchanged, compared to its average volume of 4,671,196. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.45. Citizens Financial Group Inc has a 1 year low of $27.62 and a 1 year high of $42.87.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s payout ratio is 35.96%.
A number of brokerages have weighed in on CFG. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. ValuEngine upgraded shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, April 19th. Finally, Wedbush set a $39.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Citizens Financial Group currently has an average rating of “Buy” and a consensus price target of $41.36.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
Further Reading: Certificate of Deposit (CD)
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