Benjamin Edwards Inc. Purchases New Stake in Citizens Financial Group, Inc. $CFG

Benjamin Edwards Inc. acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,106 shares of the bank’s stock, valued at approximately $803,000.

Several other large investors also recently modified their holdings of CFG. Ninety One UK Ltd bought a new position in shares of Citizens Financial Group in the 3rd quarter worth approximately $308,946,000. Norges Bank purchased a new stake in Citizens Financial Group in the second quarter worth $253,423,000. HoldCo Asset Management LP bought a new position in Citizens Financial Group in the second quarter worth $93,361,000. Marshall Wace LLP bought a new position in Citizens Financial Group in the second quarter worth $67,492,000. Finally, Synergy Asset Management LLC purchased a new position in Citizens Financial Group during the third quarter valued at $60,434,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $59.76 on Wednesday. The company has a market capitalization of $25.66 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.52 and a beta of 0.72. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $62.16. The firm’s 50 day simple moving average is $56.27 and its two-hundred day simple moving average is $52.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group raised their price target on Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. DA Davidson reiterated a “buy” rating and issued a $59.00 target price on shares of Citizens Financial Group in a research note on Thursday, October 16th. Finally, Cowen reiterated a “buy” rating on shares of Citizens Financial Group in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.33.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.