State Treasurer State of Michigan reduced its stake in Citizens Financial Group Inc (NYSE:CFG) by 1.0% during the 1st quarter, HoldingsChannel reports. The fund owned 132,700 shares of the bank’s stock after selling 1,300 shares during the period. State Treasurer State of Michigan’s holdings in Citizens Financial Group were worth $4,313,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Brookmont Capital Management lifted its position in Citizens Financial Group by 13.2% during the fourth quarter. Brookmont Capital Management now owns 6,796 shares of the bank’s stock worth $202,000 after buying an additional 791 shares during the period. Hotaling Investment Management LLC purchased a new position in Citizens Financial Group during the fourth quarter worth about $1,997,000. Morgan Stanley lifted its position in Citizens Financial Group by 28.6% during the third quarter. Morgan Stanley now owns 2,927,578 shares of the bank’s stock worth $112,917,000 after buying an additional 650,344 shares during the period. Seacliff Capital LLC purchased a new position in Citizens Financial Group during the fourth quarter worth about $5,946,000. Finally, Advisor Partners LLC lifted its position in Citizens Financial Group by 68.0% during the fourth quarter. Advisor Partners LLC now owns 10,810 shares of the bank’s stock worth $321,000 after buying an additional 4,374 shares during the period. Institutional investors and hedge funds own 98.90% of the company’s stock.
Shares of Citizens Financial Group stock traded up $0.26 during trading hours on Friday, reaching $35.02. The stock had a trading volume of 130,083 shares, compared to its average volume of 4,137,156. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.96 and a quick ratio of 0.95. Citizens Financial Group Inc has a 1 year low of $27.62 and a 1 year high of $42.87. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm earned $0.78 earnings per share. Research analysts anticipate that Citizens Financial Group Inc will post 3.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.66%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 35.96%.
A number of equities analysts have recently commented on the company. Wedbush set a $39.00 price objective on Citizens Financial Group and gave the stock a “buy” rating in a report on Monday, April 22nd. ValuEngine upgraded Citizens Financial Group from a “strong sell” rating to a “sell” rating in a report on Friday, April 19th. Finally, Zacks Investment Research downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Citizens Financial Group currently has an average rating of “Buy” and a consensus price target of $41.36.
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Citizens Financial Group 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.
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