Stevens Capital Management LP trimmed its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,826 shares of the bank’s stock after selling 5,566 shares during the quarter. Stevens Capital Management LP’s holdings in Citizens Financial Group were worth $8,165,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of CFG. Smithfield Trust Co. boosted its holdings in Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after purchasing an additional 70 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in Citizens Financial Group in the 1st quarter valued at about $211,000. Holderness Investments Co. acquired a new position in Citizens Financial Group in the 1st quarter valued at about $214,000. Courier Capital LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at about $214,000. Finally, Eagle Global Advisors LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at about $215,000. Institutional investors own 96.86% of the company’s stock.
Several brokerages have recently commented on CFG. BidaskClub lowered shares of Citizens Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Morgan Stanley restated an “overweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Citizens Financial Group in a report on Tuesday, June 6th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Citigroup Inc. restated a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods set a $40.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Citizens Financial Group presently has an average rating of “Hold” and a consensus target price of $35.75.
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Shares of Citizens Financial Group, Inc. (NYSE:CFG) traded up 1.09% during mid-day trading on Friday, reaching $35.16. 6,791,062 shares of the company were exchanged. The company’s 50-day moving average is $33.99 and its 200 day moving average is $35.34. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 15.01 and a beta of 1.32. Citizens Financial Group, Inc. has a 12 month low of $23.81 and a 12 month high of $39.75.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The company 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. Citizens Financial Group’s revenue was up 9.2% on a year-over-year basis. Analysts predict that Citizens Financial Group, Inc. will post $2.53 EPS for the current year.
Citizens Financial Group announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $850.00 million in shares. This repurchase authorization allows the bank to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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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