Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 10.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,833,286 shares of the bank’s stock after selling 213,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.43% of Citizens Financial Group worth $46,272,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in CFG. Invesco Ltd. grew its position in Citizens Financial Group by 10.3% during the first quarter. Invesco Ltd. now owns 21,953,796 shares of the bank’s stock valued at $412,952,000 after purchasing an additional 2,058,095 shares in the last quarter. Royal Bank of Canada lifted its stake in Citizens Financial Group by 130.8% in the first quarter. Royal Bank of Canada now owns 2,710,284 shares of the bank’s stock valued at $50,981,000 after acquiring an additional 1,536,010 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Citizens Financial Group by 10.3% in the first quarter. JPMorgan Chase & Co. now owns 15,375,051 shares of the bank’s stock valued at $289,204,000 after acquiring an additional 1,432,078 shares during the last quarter. Eminence Capital LP lifted its stake in Citizens Financial Group by 29.7% in the first quarter. Eminence Capital LP now owns 4,770,679 shares of the bank’s stock valued at $89,736,000 after acquiring an additional 1,091,892 shares during the last quarter. Finally, UBS Group AG lifted its stake in Citizens Financial Group by 50.2% in the first quarter. UBS Group AG now owns 2,546,594 shares of the bank’s stock valued at $47,902,000 after acquiring an additional 850,562 shares during the last quarter. 93.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Citizens Financial Group in a research note on Friday. They issued an “underperform” rating for the company. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. UBS Group upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating in a research note on Monday, May 4th. ValuEngine cut shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Bank of America boosted their price objective on shares of Citizens Financial Group from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Citizens Financial Group currently has a consensus rating of “Buy” and a consensus target price of $32.77.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, July 17th. The bank reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.36. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Citizens Financial Group had a net margin of 14.58% and a return on equity of 5.85%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. As a group, equities research analysts anticipate that Citizens Financial Group Inc will post 1.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a dividend of $0.39 per share. 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 payout ratio is currently 40.63%.
Citizens Financial Group Company Profile
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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