MQS Management LLC Makes New $261,000 Investment in Citizens Financial Group, Inc. (NYSE:CFG)

MQS Management LLC acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,359 shares of the bank’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Entropy Technologies LP raised its position in Citizens Financial Group by 94.8% in the third quarter. Entropy Technologies LP now owns 78,136 shares of the bank’s stock worth $3,209,000 after purchasing an additional 38,024 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Citizens Financial Group by 46.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 22,173 shares of the bank’s stock worth $911,000 after buying an additional 6,989 shares in the last quarter. Versor Investments LP bought a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $1,910,000. Venturi Wealth Management LLC lifted its position in shares of Citizens Financial Group by 174.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,076 shares of the bank’s stock worth $167,000 after buying an additional 2,593 shares during the period. Finally, Wolverine Asset Management LLC boosted its stake in Citizens Financial Group by 43.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 39,907 shares of the bank’s stock valued at $1,639,000 after buying an additional 12,178 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Up 0.3 %

Citizens Financial Group stock opened at $46.58 on Friday. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.77 and a beta of 1.07. The company’s 50 day simple moving average is $41.97 and its 200 day simple moving average is $39.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. 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 announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting 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 company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on CFG shares. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. DA Davidson raised their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stephens raised their price target on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, UBS Group increased their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.