Trexquant Investment LP lowered its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 70.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,488 shares of the bank’s stock after selling 86,112 shares during the period. Trexquant Investment LP’s holdings in Citizens Financial Group were worth $1,266,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. FTB Advisors Inc. raised its stake in shares of Citizens Financial Group by 39.5% in the first quarter. FTB Advisors Inc. now owns 3,381 shares of the bank’s stock worth $124,000 after buying an additional 957 shares during the period. Coconut Grove Bank raised its stake in shares of Citizens Financial Group by 59.1% in the first quarter. Coconut Grove Bank now owns 4,845 shares of the bank’s stock worth $167,000 after buying an additional 1,800 shares during the period. Smithfield Trust Co. raised 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 buying an additional 70 shares during the period. Advisor Partners LLC bought a new stake in shares of Citizens Financial Group during the first quarter worth about $203,000. Finally, IFP Advisors Inc raised its stake in shares of Citizens Financial Group by 9.3% in the first quarter. IFP Advisors Inc now owns 5,899 shares of the bank’s stock worth $204,000 after buying an additional 504 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.
Citizens Financial Group, Inc. (CFG) traded up 0.76% on Friday, reaching $33.06. 3,972,342 shares of the company’s stock traded hands. Citizens Financial Group, Inc. has a 52 week low of $23.37 and a 52 week high of $39.75. The stock has a market capitalization of $16.55 billion, a price-to-earnings ratio of 14.12 and a beta of 1.31. The firm has a 50-day moving average price of $35.34 and a 200-day moving average price of $35.81.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were issued a $0.18 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, July 31st. Citizens Financial Group’s dividend payout ratio is presently 30.64%.
Citizens Financial Group announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $850.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
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A number of brokerages have issued reports on CFG. Morgan Stanley reaffirmed an “overweight” rating and set a $41.00 price objective (up from $40.00) on shares of Citizens Financial Group in a report on Tuesday, June 6th. Wedbush raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $39.00 to $41.00 in a report on Monday, May 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $39.00 price objective (up from $38.00) on shares of Citizens Financial Group in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Saturday, April 22nd. Finally, Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $35.19.
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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