Nomura Asset Management Co. Ltd. grew its stake in Citizens Financial Group Inc (NYSE:CFG) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,704 shares of the bank’s stock after purchasing an additional 3,726 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Citizens Financial Group were worth $2,905,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in Citizens Financial Group by 4.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after purchasing an additional 47,855 shares in the last quarter. Barings LLC boosted its position in Citizens Financial Group by 45.1% during the third quarter. Barings LLC now owns 86,900 shares of the bank’s stock worth $3,291,000 after purchasing an additional 27,000 shares in the last quarter. Lazard Asset Management LLC boosted its position in Citizens Financial Group by 16,695.7% during the second quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock worth $99,167,000 after purchasing an additional 2,762,808 shares in the last quarter. Boston Advisors LLC boosted its position in Citizens Financial Group by 10.4% during the third quarter. Boston Advisors LLC now owns 660,245 shares of the bank’s stock worth $25,003,000 after purchasing an additional 61,942 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Citizens Financial Group by 0.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,347,000 shares of the bank’s stock worth $51,011,000 after purchasing an additional 8,700 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.
CFG has been the topic of a number of research analyst reports. Barclays boosted their target price on Citizens Financial Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. BidaskClub upgraded Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Citigroup restated a “neutral” rating and issued a $42.00 price objective (up from $38.00) on shares of Citizens Financial Group in a research report on Monday, October 9th. Finally, Bank of America restated an “underperform” rating and issued a $40.00 price objective (down from $41.00) on shares of Citizens Financial Group in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.23.
Citizens Financial Group Inc (CFG) opened at $41.74 on Monday. The company has a market capitalization of $20,535.72, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.07 and a beta of 1.37. Citizens Financial Group Inc has a 12 month low of $31.51 and a 12 month high of $42.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.97.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. equities analysts predict that Citizens Financial Group Inc will post 2.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.72%. Citizens Financial Group’s dividend payout ratio is presently 29.15%.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the completion of the sale, the director now directly owns 12,917 shares in the company, valued at $520,684.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.
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About Citizens Financial Group
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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