Elizabeth Park Capital Advisors Ltd. Boosts Stake in Citizens Financial Group Inc (CFG)

Elizabeth Park Capital Advisors Ltd. raised its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432,755 shares of the bank’s stock after buying an additional 24,000 shares during the period. Citizens Financial Group comprises 4.6% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 6th biggest position. Elizabeth Park Capital Advisors Ltd.’s holdings in Citizens Financial Group were worth $16,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Credit Suisse AG increased its holdings in shares of Citizens Financial Group by 32.7% in the third quarter. Credit Suisse AG now owns 965,109 shares of the bank’s stock valued at $37,224,000 after purchasing an additional 237,703 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Citizens Financial Group by 9.7% in the third quarter. Schroder Investment Management Group now owns 2,264,532 shares of the bank’s stock valued at $87,343,000 after purchasing an additional 200,894 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Citizens Financial Group by 11.5% in the third quarter. Canada Pension Plan Investment Board now owns 1,070,413 shares of the bank’s stock valued at $41,286,000 after purchasing an additional 110,700 shares in the last quarter. American International Group Inc. increased its holdings in shares of Citizens Financial Group by 4.1% in the third quarter. American International Group Inc. now owns 208,158 shares of the bank’s stock valued at $8,029,000 after purchasing an additional 8,171 shares in the last quarter. Finally, Clover Partners L.P. increased its holdings in shares of Citizens Financial Group by 15.6% in the third quarter. Clover Partners L.P. now owns 52,000 shares of the bank’s stock valued at $2,006,000 after purchasing an additional 7,000 shares in the last quarter. 97.73% of the stock is owned by institutional investors.

In other Citizens Financial Group news, Director Shivan S. Subramaniam acquired 3,000 shares of Citizens Financial Group stock in a transaction on Wednesday, November 21st. The shares were purchased at an average cost of $35.32 per share, with a total value of $105,960.00. Following the completion of the purchase, the director now owns 38,963 shares in the company, valued at $1,376,173.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles John Koch acquired 14,000 shares of Citizens Financial Group stock in a transaction on Tuesday, October 23rd. The stock was acquired at an average cost of $36.32 per share, for a total transaction of $508,480.00. Following the completion of the purchase, the director now owns 49,937 shares of the company’s stock, valued at approximately $1,813,711.84. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on CFG. Morgan Stanley lowered their price target on shares of Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, September 18th. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Macquarie raised shares of Citizens Financial Group from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a report on Monday, October 22nd. Finally, Bank of America raised shares of Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $44.73.

Shares of CFG stock opened at $35.19 on Friday. Citizens Financial Group Inc has a 52-week low of $34.82 and a 52-week high of $48.23. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.65 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.79.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Citizens Financial Group Inc will post 3.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were paid a $0.27 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $1.08 dividend on an annualized basis and a yield of 3.07%. Citizens Financial Group’s payout ratio is presently 41.86%.

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About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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