Caprock Group LLC Makes New Investment in Citizens Financial Group, Inc. $CFG

Caprock Group LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,429 shares of the bank’s stock, valued at approximately $1,329,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ninety One UK Ltd acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth $308,946,000. Norges Bank purchased a new position in Citizens Financial Group during the 2nd quarter valued at about $253,423,000. HoldCo Asset Management LP acquired a new position in Citizens Financial Group during the second quarter worth about $93,361,000. Marshall Wace LLP purchased a new stake in shares of Citizens Financial Group in the second quarter valued at about $67,492,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Citizens Financial Group in the third quarter valued at approximately $60,434,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CFG shares. Weiss Ratings downgraded Citizens Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 3rd. Raymond James Financial lowered shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $62.00 to $66.00 in a report on Wednesday, January 7th. TD Cowen raised their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Finally, Argus raised their target price on shares of Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $68.77.

Citizens Financial Group Stock Up 0.5%

CFG opened at $65.09 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79. The firm has a 50 day moving average price of $61.42 and a 200 day moving average price of $54.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $27.95 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Citizens Financial Group’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.84 annualized dividend and a yield of 2.8%. Citizens Financial Group’s dividend payout ratio (DPR) is 47.55%.

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.