Harvest Fund Management Co. Ltd Purchases 5,608 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Harvest Fund Management Co. Ltd increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 293.3% during the third quarter, HoldingsChannel.com reports. The firm owned 7,520 shares of the bank’s stock after buying an additional 5,608 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Citizens Financial Group were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CFG. LSV Asset Management increased its holdings in Citizens Financial Group by 1.8% during the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after purchasing an additional 113,300 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Citizens Financial Group by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after acquiring an additional 587,115 shares during the period. AQR Capital Management LLC raised its holdings in Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares during the period. Hsbc Holdings PLC boosted its position in shares of Citizens Financial Group by 1.7% during the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock worth $99,448,000 after buying an additional 45,038 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Citizens Financial Group by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock valued at $83,933,000 after purchasing an additional 942,662 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI cut their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Citigroup lifted their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.47.

Citizens Financial Group Price Performance

CFG opened at $48.09 on Wednesday. Citizens Financial Group, Inc. has a 1 year low of $26.13 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.81 and a beta of 1.07. The firm’s fifty day moving average price is $43.14 and its two-hundred day moving average price is $40.02.

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

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.49%. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

About Citizens Financial Group

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.