Kornitzer Capital Management Inc. KS raised its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 80.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,700 shares of the bank’s stock after purchasing an additional 64,495 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Citizens Financial Group were worth $5,117,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC grew its position in Citizens Financial Group by 23,866.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 719 shares of the bank’s stock valued at $25,000 after buying an additional 716 shares during the period. Zions Bancorporation N.A. purchased a new stake in shares of Citizens Financial Group in the first quarter worth about $29,000. Liberty Wealth Management LLC purchased a new stake in shares of Citizens Financial Group in the first quarter worth about $34,000. Institutional & Family Asset Management LLC purchased a new stake in shares of Citizens Financial Group in the first quarter worth about $54,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Citizens Financial Group by 55.8% in the first quarter. Advisory Services Network LLC now owns 1,765 shares of the bank’s stock worth $57,000 after buying an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.
Citizens Financial Group stock traded up $0.10 on Thursday, hitting $31.82. 707,916 shares of the stock traded hands, compared to its average volume of 5,432,770. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.92 and a beta of 1.45. The firm has a fifty day moving average of $35.48. Citizens Financial Group Inc has a 1 year low of $27.62 and a 1 year high of $41.76.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Citizens Financial Group had a return on equity of 8.94% and a net margin of 22.61%. During the same quarter last year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that Citizens Financial Group Inc will post 3.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.44 annualized dividend and a yield of 4.53%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.32. Citizens Financial Group’s dividend payout ratio (DPR) is currently 40.45%.
Several research firms recently weighed in on CFG. JPMorgan Chase & Co. decreased their price objective on shares of Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Citigroup cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $35.00 in a research report on Friday, July 12th. Wedbush set a $39.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a research report on Monday, April 22nd. ValuEngine upgraded shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, April 19th. Finally, UBS Group cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $38.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $40.42.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
Further Reading: Find a Trading Strategy That Works
Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group Inc (NYSE:CFG).
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.