First Quadrant L P CA cut its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 84.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,900 shares of the bank’s stock after selling 46,896 shares during the quarter. First Quadrant L P CA’s holdings in Citizens Financial Group were worth $225,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in Citizens Financial Group by 1.3% during the second quarter. CIBC Asset Management Inc now owns 38,312 shares of the bank’s stock worth $967,000 after buying an additional 498 shares in the last quarter. Highland Capital Management LLC grew its position in Citizens Financial Group by 0.6% during the second quarter. Highland Capital Management LLC now owns 86,550 shares of the bank’s stock worth $2,185,000 after buying an additional 550 shares in the last quarter. Cornerstone Advisors Inc. grew its position in Citizens Financial Group by 34.3% during the first quarter. Cornerstone Advisors Inc. now owns 2,562 shares of the bank’s stock worth $48,000 after buying an additional 655 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Citizens Financial Group by 0.5% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 154,512 shares of the bank’s stock worth $2,906,000 after buying an additional 779 shares in the last quarter. Finally, Atlas Capital Advisors LLC grew its position in Citizens Financial Group by 23.5% during the first quarter. Atlas Capital Advisors LLC now owns 4,167 shares of the bank’s stock worth $78,000 after buying an additional 794 shares in the last quarter. 93.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of CFG opened at $24.81 on Friday. The company has a market capitalization of $10.58 billion, a P/E ratio of 9.88, a PEG ratio of 2.47 and a beta of 1.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.91. Citizens Financial Group Inc has a one year low of $14.12 and a one year high of $41.29. The business’s 50 day simple moving average is $24.70 and its 200-day simple moving average is $26.76.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, July 17th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.17 by $0.36. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. Citizens Financial Group had a return on equity of 5.85% and a net margin of 14.58%. Citizens Financial Group’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. On average, sell-side analysts anticipate that Citizens Financial Group Inc will post 1.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Tuesday, July 28th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 40.63%.
A number of research firms recently weighed in on CFG. UBS Group raised Citizens Financial Group from a “neutral” rating to a “buy” rating in a research report on Monday, May 4th. Zacks Investment Research raised Citizens Financial Group from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a report on Thursday, April 30th. Royal Bank of Canada decreased their price objective on Citizens Financial Group from $35.00 to $29.00 in a report on Wednesday, July 1st. Morgan Stanley lifted their price objective on Citizens Financial Group from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Finally, Argus lifted their price objective on Citizens Financial Group from $30.00 to $34.00 and gave the company a “buy” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Citizens Financial Group currently has an average rating of “Buy” and an average price target of $32.77.
About Citizens Financial Group
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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