Stephens Inc. AR acquired a new stake in Citizens Financial Group Inc (NYSE:CFG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 49,958 shares of the bank’s stock, valued at approximately $1,892,000.
Several other hedge funds have also made changes to their positions in CFG. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Citizens Financial Group by 4.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after acquiring an additional 47,855 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Citizens Financial Group by 16,695.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock worth $99,167,000 after acquiring an additional 2,762,808 shares in the last quarter. Boston Advisors LLC grew its holdings in Citizens Financial Group by 10.4% during the 3rd quarter. Boston Advisors LLC now owns 660,245 shares of the bank’s stock worth $25,003,000 after acquiring an additional 61,942 shares in the last quarter. Toronto Dominion Bank grew its holdings in Citizens Financial Group by 10.7% during the 3rd quarter. Toronto Dominion Bank now owns 192,364 shares of the bank’s stock worth $7,284,000 after acquiring an additional 18,523 shares in the last quarter. Finally, Intrust Bank NA acquired a new position in Citizens Financial Group during the 2nd quarter worth approximately $267,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $161,240.00. Following the sale, the director now directly owns 12,917 shares of the company’s stock, valued at approximately $520,684.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on CFG. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Monday, September 18th. Citigroup reiterated a “neutral” rating and issued a $42.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research report on Monday, October 9th. BidaskClub upgraded shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Oppenheimer restated a “hold” rating on shares of Citizens Financial Group in a research report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods set a $40.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.23.
Citizens Financial Group Inc (CFG) traded up $0.80 during trading hours on Thursday, hitting $41.43. 4,692,245 shares of the stock were exchanged, compared to its average volume of 4,747,056. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 0.98. Citizens Financial Group Inc has a fifty-two week low of $31.51 and a fifty-two week high of $42.52. The firm has a market cap of $20,117.53, a PE ratio of 16.56, a PEG ratio of 1.04 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. The firm 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 firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. analysts forecast that Citizens Financial Group Inc will post 2.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. Citizens Financial Group’s payout ratio is 29.15%.
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Citizens Financial Group 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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