Citizens Financial Group, Inc. $CFG Shares Purchased by AlphaQuest LLC

AlphaQuest LLC grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 101.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,551 shares of the bank’s stock after acquiring an additional 55,650 shares during the period. Citizens Financial Group comprises 0.4% of AlphaQuest LLC’s holdings, making the stock its 7th biggest position. AlphaQuest LLC’s holdings in Citizens Financial Group were worth $5,877,000 as of its most recent SEC filing.

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

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $63.46 on Friday. The firm has a 50-day simple moving average of $58.83 and a 200-day simple moving average of $53.48. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $27.26 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 0.51 and a beta of 0.72. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $65.88.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. Citizens Financial Group’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. On average, equities analysts predict 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 will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be given a $0.46 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. Citizens Financial Group’s dividend payout ratio is 47.55%.

Analysts Set New Price Targets

A number of research firms have recently commented on CFG. Barclays set a $77.00 target price on Citizens Financial Group and gave the company an “overweight” rating in a research report on Monday, January 5th. Bank of America boosted their price objective on Citizens Financial Group from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. TD Cowen upped their target price on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Citigroup lifted their price target on shares of Citizens Financial Group from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.55.

Citizens Financial Group Profile

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.