Lincoln Capital Corp trimmed its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 74,739 shares of the bank’s stock after selling 369 shares during the period. Citizens Financial Group makes up 2.2% of Lincoln Capital Corp’s investment portfolio, making the stock its 17th largest holding. Lincoln Capital Corp’s holdings in Citizens Financial Group were worth $2,645,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. raised its stake in shares of Citizens Financial Group by 2.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock valued at $18,448,000 after buying an additional 15,663 shares in the last quarter. First American Trust FSB acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at $3,078,000. Crossmark Global Holdings Inc. raised its stake in shares of Citizens Financial Group by 6.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 59,877 shares of the bank’s stock valued at $2,117,000 after buying an additional 3,816 shares in the last quarter. AMF Pensionsforsakring AB raised its stake in shares of Citizens Financial Group by 2.2% in the 2nd quarter. AMF Pensionsforsakring AB now owns 762,983 shares of the bank’s stock valued at $26,979,000 after buying an additional 16,710 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its stake in shares of Citizens Financial Group by 11.4% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 79,490 shares of the bank’s stock valued at $2,811,000 after buying an additional 8,105 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.
In related news, Director Charles John Koch acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $32.45 per share, with a total value of $486,750.00. Following the acquisition, the director now directly owns 68,781 shares in the company, valued at $2,231,943.45. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.
Shares of CFG traded up $0.33 during trading hours on Friday, hitting $38.52. The stock had a trading volume of 4,371,992 shares, compared to its average volume of 4,464,166. The company’s fifty day moving average is $35.33 and its two-hundred day moving average is $35.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.96. Citizens Financial Group Inc has a 52 week low of $27.62 and a 52 week high of $38.62. The stock has a market capitalization of $16.94 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.64 and a beta of 1.48.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. Citizens Financial Group had a net margin of 22.29% and a return on equity of 8.85%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Citizens Financial Group Inc will post 3.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, October 29th. Citizens Financial Group’s dividend payout ratio is currently 40.45%.
A number of brokerages have recently issued reports on CFG. JPMorgan Chase & Co. dropped their price objective on shares of Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Citigroup lowered shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $39.00 to $32.00 in a report on Tuesday, October 8th. Morgan Stanley lowered their target price on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Zacks Investment Research raised shares of Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 target price on the stock in a report on Wednesday, October 23rd. Finally, Argus raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.65.
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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