A. D. Beadell Investment Counsel Inc. acquired a new stake in shares of Citizens Financial Group Inc (NYSE:CFG) during the first quarter, Holdings Channel reports. The fund acquired 54,780 shares of the bank’s stock, valued at approximately $1,892,000. Citizens Financial Group makes up about 1.6% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 23rd largest position.
Other hedge funds also recently made changes to their positions in the company. Virtus Investment Advisers Inc. acquired a new stake in shares of Citizens Financial Group during the third quarter worth $106,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $119,000. SRB Corp boosted its stake in shares of Citizens Financial Group by 8.0% in the third quarter. SRB Corp now owns 6,656 shares of the bank’s stock worth $164,000 after buying an additional 491 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $204,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Citizens Financial Group by 22.7% in the first quarter. CENTRAL TRUST Co now owns 6,117 shares of the bank’s stock worth $211,000 after buying an additional 1,130 shares during the period. 97.12% of the stock is owned by institutional investors.
Citizens Financial Group Inc (NYSE:CFG) traded down 1.05% during trading on Friday, reaching $34.90. 7,131,085 shares of the company’s stock were exchanged. The company’s 50-day moving average is $35.56 and its 200-day moving average is $33.46. The company has a market capitalization of $17.77 billion, a PE ratio of 17.72 and a beta of 1.36. Citizens Financial Group Inc has a 1-year low of $18.34 and a 1-year high of $39.75.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 20th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company earned $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. Citizens Financial Group had a net margin of 18.13% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Equities research analysts expect that Citizens Financial Group Inc will post $2.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 17th. Stockholders of record on Wednesday, May 3rd will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, May 1st. Citizens Financial Group’s payout ratio is 28.28%.
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A number of brokerages recently weighed in on CFG. Citigroup Inc reaffirmed a “hold” rating on shares of Citizens Financial Group in a research report on Friday. Piper Jaffray Companies raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods set a $40.00 price target on shares of Citizens Financial Group and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a research report on Sunday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Citizens Financial Group has a consensus rating of “Hold” and an average price target of $33.45.
Citizens Financial Group Company Profile
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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