Zurcher Kantonalbank Zurich Cantonalbank Has $2.66 Million Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Posted by Defense World Staff on Apr 23rd, 2023

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) by 60.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,448 shares of the bank’s stock after selling 103,096 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Citizens Financial Group were worth $2,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CFG. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Citizens Financial Group by 23.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank’s stock valued at $478,000 after purchasing an additional 1,980 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Citizens Financial Group by 29.7% in the first quarter. American Century Companies Inc. now owns 53,879 shares of the bank’s stock valued at $2,442,000 after purchasing an additional 12,350 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Citizens Financial Group by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank’s stock valued at $2,585,000 after purchasing an additional 3,531 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Citizens Financial Group by 9.3% in the first quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank’s stock valued at $3,229,000 after purchasing an additional 6,060 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Citizens Financial Group by 1.5% in the first quarter. Blair William & Co. IL now owns 38,619 shares of the bank’s stock valued at $1,751,000 after purchasing an additional 586 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citizens Financial Group

In other news, Director Kevin Cummings sold 81,151 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $44.40, for a total value of $3,603,104.40. Following the completion of the transaction, the director now owns 455,789 shares of the company’s stock, valued at $20,237,031.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Citizens Financial Group Stock Down 0.9 %

CFG stock opened at $28.80 on Friday. The stock has a market capitalization of $13.95 billion, a P/E ratio of 6.94, a price-to-earnings-growth ratio of 0.21 and a beta of 1.32. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. Citizens Financial Group, Inc. has a 12 month low of $28.27 and a 12 month high of $44.82. The firm has a 50-day moving average price of $34.61 and a 200-day moving average price of $38.19.

Citizens Financial Group (NYSE:CFG – Get Rating) last posted its earnings results on Wednesday, April 19th. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.11). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Citizens Financial Group had a return on equity of 11.12% and a net margin of 21.12%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 4.61 EPS for the current fiscal year.

Citizens Financial Group declared that its board has initiated a stock buyback plan on Friday, February 17th that permits the company to repurchase $1.15 billion in shares. This repurchase authorization permits the bank to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 17th. Stockholders of record on Wednesday, May 3rd will be issued a $0.42 dividend. The ex-dividend date is Tuesday, May 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.83%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 40.48%.

Analyst Upgrades and Downgrades

CFG has been the topic of several research reports. DA Davidson decreased their price objective on shares of Citizens Financial Group from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup boosted their target price on shares of Citizens Financial Group from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, February 22nd. Barclays reduced their target price on shares of Citizens Financial Group from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Citizens Financial Group from $45.50 to $37.00 and set an “overweight” rating for the company in a research report on Monday, April 10th. Finally, Wedbush cut shares of Citizens Financial Group from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Citizens Financial Group Profile

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Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.