MidWestOne Financial Group Inc. Invests $221,000 in Citizens Financial Group, Inc. (NYSE:CFG)

MidWestOne Financial Group Inc. bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,374 shares of the bank’s stock, valued at approximately $221,000.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after acquiring an additional 1,615,144 shares during the last quarter. Wellington Management Group LLP raised its position in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares during the period. LSV Asset Management lifted its stake in Citizens Financial Group by 1.8% in the second quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock worth $237,106,000 after purchasing an additional 113,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Citizens Financial Group by 15.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after buying an additional 587,115 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 61.4% during the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 1.0 %

NYSE CFG opened at $46.42 on Wednesday. The firm has a market capitalization of $20.46 billion, a PE ratio of 18.28, a P/E/G ratio of 1.79 and a beta of 1.08. The stock’s 50 day moving average is $44.26 and its 200 day moving average is $40.70. Citizens Financial Group, Inc. has a twelve month low of $29.16 and a twelve month high of $49.25. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Research analysts forecast that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.62%. Citizens Financial Group’s payout ratio is 66.14%.

Analyst Upgrades and Downgrades

CFG has been the subject of several analyst reports. DA Davidson increased their target price on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler increased their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.94.

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.