Reinhart Partners Inc. cut its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 811,086 shares of the bank’s stock after selling 9,502 shares during the quarter. Citizens Financial Group makes up approximately 2.7% of Reinhart Partners Inc.’s holdings, making the stock its 8th largest holding. Reinhart Partners Inc.’s holdings in Citizens Financial Group were worth $28,688,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC boosted its position in Citizens Financial Group by 67,645.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,455,935 shares of the bank’s stock valued at $299,002,000 after purchasing an additional 8,443,453 shares during the period. Eminence Capital LP acquired a new position in Citizens Financial Group during the 2nd quarter valued at approximately $87,590,000. Nomura Holdings Inc. acquired a new position in Citizens Financial Group during the 2nd quarter valued at approximately $56,779,000. Prudential Financial Inc. boosted its position in Citizens Financial Group by 75.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,796,300 shares of the bank’s stock worth $98,877,000 after acquiring an additional 1,198,821 shares during the period. Finally, Balyasny Asset Management LLC boosted its position in Citizens Financial Group by 1,469.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 933,552 shares of the bank’s stock worth $33,010,000 after acquiring an additional 874,067 shares during the period. Institutional investors own 96.25% of the company’s stock.
In other news, Director Charles John Koch acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of $32.45 per share, with a total value of $486,750.00. Following the purchase, the director now owns 68,781 shares of the company’s stock, valued at $2,231,943.45. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. Citizens Financial Group had a return on equity of 8.85% and a net margin of 22.29%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business earned $0.93 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Citizens Financial Group Inc will post 3.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Tuesday, October 29th. Citizens Financial Group’s dividend payout ratio is presently 40.45%.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 price target for the company in a research report on Wednesday, October 23rd. Morgan Stanley reduced their price target on Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Citigroup lowered Citizens Financial Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $39.00 to $32.00 in a research report on Tuesday, October 8th. Argus upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Citizens Financial Group currently has an average rating of “Hold” and an average price target of $38.65.
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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