Vinva Investment Management Ltd Raises Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Vinva Investment Management Ltd raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 42.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,826 shares of the bank’s stock after purchasing an additional 7,404 shares during the period. Vinva Investment Management Ltd’s holdings in Citizens Financial Group were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Costello Asset Management INC purchased a new stake in shares of Citizens Financial Group during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth approximately $28,000. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group during the second quarter worth approximately $25,000. Finally, Versant Capital Management Inc raised its stake in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after purchasing an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $48.11 on Friday. The company has a market cap of $21.20 billion, a P/E ratio of 18.94, a PEG 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, Inc. has a one year low of $26.99 and a one year high of $49.25. The business’s 50-day simple moving average is $43.54 and its 200 day simple moving average is $40.21.

Citizens Financial Group (NYSE:CFG) last issued 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 return on equity of 5.73% and a net margin of 10.37%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $0.85 EPS. Citizens Financial Group’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Analysts Set New Price Targets

CFG has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup upped their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Morgan Stanley upped their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Evercore ISI dropped their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Nine 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, the company has a consensus rating of “Hold” and a consensus price target of $45.47.

Citizens Financial Group Company 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.