Janney Montgomery Scott LLC Grows Stock Position in Citizens Financial Group, Inc. $CFG

Janney Montgomery Scott LLC boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,352 shares of the bank’s stock after buying an additional 512 shares during the period. Janney Montgomery Scott LLC’s holdings in Citizens Financial Group were worth $1,582,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AustralianSuper Pty Ltd bought a new stake in shares of Citizens Financial Group in the first quarter valued at about $108,864,000. Assetmark Inc. increased its holdings in shares of Citizens Financial Group by 11,167.0% in the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock valued at $55,209,000 after purchasing an additional 1,335,577 shares during the period. AQR Capital Management LLC grew its holdings in Citizens Financial Group by 19.1% during the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock worth $294,007,000 after acquiring an additional 1,180,390 shares during the period. Swedbank AB grew its holdings in Citizens Financial Group by 291.5% during the second quarter. Swedbank AB now owns 1,352,458 shares of the bank’s stock worth $60,522,000 after acquiring an additional 1,006,999 shares during the period. Finally, Junto Capital Management LP acquired a new stake in Citizens Financial Group in the first quarter valued at approximately $38,915,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

CFG stock opened at $49.25 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s 50 day moving average price is $51.06 and its 200 day moving average price is $44.84. The firm has a market cap of $21.24 billion, a P/E ratio of 14.97, a PEG ratio of 0.54 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 51.06%.

Analysts Set New Price Targets

CFG has been the topic of several research reports. Cantor Fitzgerald started coverage on Citizens Financial Group in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 target price on the stock. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Wells Fargo & Company set a $57.00 price objective on Citizens Financial Group in a research note on Wednesday, July 2nd. Truist Financial lifted their price objective on Citizens Financial Group from $52.00 to $58.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. Finally, Keefe, Bruyette & Woods raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.86.

Citizens Financial Group 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.