Retirement Systems of Alabama decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,904 shares of the bank’s stock after selling 2,696 shares during the quarter. Retirement Systems of Alabama’s holdings in Citizens Financial Group were worth $9,199,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sun Life Financial INC grew its stake in shares of Citizens Financial Group by 41,266.7% in the second quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock worth $133,000 after purchasing an additional 3,714 shares during the last quarter. Smithfield Trust Co. grew its stake in shares of Citizens Financial Group by 1.4% in the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after purchasing an additional 70 shares during the last quarter. Lipe & Dalton bought a new stake in shares of Citizens Financial Group in the third quarter worth $207,000. Colony Group LLC bought a new stake in shares of Citizens Financial Group in the second quarter worth $210,000. Finally, Courier Capital LLC bought a new stake in shares of Citizens Financial Group in the second quarter worth $214,000. 98.15% of the stock is currently owned by institutional investors.
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Citizens Financial Group, Inc. (NYSE CFG) opened at $38.17 on Friday. The stock has a market cap of $18,779.29, a PE ratio of 15.45, a PEG ratio of 0.97 and a beta of 1.35. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.67. Citizens Financial Group, Inc. has a 1 year low of $31.51 and a 1 year high of $39.75.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. research analysts forecast that Citizens Financial Group, Inc. will post 2.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.89%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 29.15%.
A number of analysts have commented on CFG shares. Barclays PLC upped their price target on shares of Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. BidaskClub raised shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Citigroup Inc. reaffirmed a “neutral” rating and set a $42.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research report on Monday, October 9th. Finally, TheStreet raised shares of Citizens Financial Group from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Citizens Financial Group currently has a consensus rating of “Hold” and an average price target of $39.14.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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