Rhumbline Advisers increased its position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 937,102 shares of the bank’s stock after buying an additional 30,483 shares during the quarter. Rhumbline Advisers owned about 0.19% of Citizens Financial Group worth $28,460,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Capital World Investors lifted its holdings in Citizens Financial Group by 76.0% in the 1st quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock valued at $861,383,000 after acquiring an additional 8,203,831 shares during the last quarter. Morgan Stanley lifted its stake in Citizens Financial Group by 18.0% during the fourth quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock valued at $720,392,000 after purchasing an additional 2,785,751 shares during the last quarter. Amundi boosted its holdings in Citizens Financial Group by 6.7% during the fourth quarter. Amundi now owns 14,607,488 shares of the bank’s stock worth $605,708,000 after buying an additional 918,694 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Citizens Financial Group by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,191,346 shares of the bank’s stock worth $507,304,000 after buying an additional 50,382 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Citizens Financial Group by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,074,256 shares of the bank’s stock valued at $395,907,000 after buying an additional 57,749 shares in the last quarter. Institutional investors and hedge funds own 88.85% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on CFG shares. Wedbush raised their price objective on Citizens Financial Group from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of Citizens Financial Group in a research note on Thursday, July 20th. Royal Bank of Canada dropped their target price on shares of Citizens Financial Group from $52.00 to $44.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. JPMorgan Chase & Co. downgraded shares of Citizens Financial Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $27.00 in a research report on Thursday, June 29th. Finally, StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.71.
Citizens Financial Group Stock Performance
Shares of CFG stock opened at $26.84 on Monday. Citizens Financial Group, Inc. has a fifty-two week low of $23.37 and a fifty-two week high of $44.82. The stock’s 50-day moving average is $28.65 and its two-hundred day moving average is $30.63. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market cap of $12.68 billion, a P/E ratio of 6.10 and a beta of 1.33.
Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.08). The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.09 billion. Citizens Financial Group had a net margin of 20.41% and a return on equity of 10.68%. During the same period in the previous year, the business posted $1.14 EPS. Analysts predict that Citizens Financial Group, Inc. will post 3.82 earnings per share for the current fiscal year.
Citizens Financial Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend was Tuesday, August 1st. Citizens Financial Group’s dividend payout ratio is presently 38.18%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.
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