Strategic Global Advisors LLC reduced its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,929 shares of the bank’s stock after selling 3,540 shares during the quarter. Strategic Global Advisors LLC’s holdings in Citizens Financial Group were worth $1,460,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Citizens Financial Group by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 16,827,697 shares of the bank’s stock worth $581,396,000 after buying an additional 391,502 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Citizens Financial Group by 4.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after buying an additional 47,855 shares during the last quarter. Intrust Bank NA bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth approximately $267,000. Ameriprise Financial Inc. grew its position in shares of Citizens Financial Group by 32.7% in the 1st quarter. Ameriprise Financial Inc. now owns 1,920,287 shares of the bank’s stock worth $66,349,000 after buying an additional 473,580 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Citizens Financial Group by 58.8% in the 1st quarter. Toronto Dominion Bank now owns 140,245 shares of the bank’s stock worth $4,846,000 after buying an additional 51,911 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.
Shares of Citizens Financial Group, Inc. (NYSE CFG) traded up 1.09% on Friday, reaching $35.16. The company’s stock had a trading volume of 6,791,062 shares. The firm has a 50-day moving average price of $33.99 and a 200 day moving average price of $35.34. The firm has a market capitalization of $17.60 billion, a PE ratio of 15.01 and a beta of 1.32. Citizens Financial Group, Inc. has a one year low of $23.81 and a one year high of $39.75.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Citizens Financial Group’s revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current fiscal year.
Citizens Financial Group announced that its board has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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CFG has been the topic of a number of recent analyst reports. BidaskClub upgraded Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. TheStreet cut Citizens Financial Group from a “b-” rating to a “c” rating in a research note on Monday, June 26th. BMO Capital Markets restated a “market perform” rating and issued a $39.00 target price (up previously from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.75.
About Citizens Financial Group
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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