CoreCap Advisors LLC trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) by 31.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,827 shares of the bank’s stock after selling 1,733 shares during the quarter. CoreCap Advisors LLC’s holdings in Citizens Financial Group were worth $137,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Citizens Financial Group by 12.2% during the first quarter. Victory Capital Management Inc. now owns 712,659 shares of the bank’s stock worth $28,708,000 after buying an additional 77,587 shares during the last quarter. IFG Advisory LLC purchased a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $242,000. Asset Management One Co. Ltd. increased its holdings in shares of Citizens Financial Group by 17.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 207,438 shares of the bank’s stock valued at $7,403,000 after acquiring an additional 31,055 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Citizens Financial Group by 49.3% in the 2nd quarter. Private Advisor Group LLC now owns 75,953 shares of the bank’s stock valued at $2,711,000 after acquiring an additional 25,079 shares during the last quarter. Finally, AGF Investments LLC purchased a new position in shares of Citizens Financial Group in the 1st quarter valued at about $383,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on CFG. Deutsche Bank Aktiengesellschaft dropped their price objective on Citizens Financial Group from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 12th. Morgan Stanley decreased their target price on Citizens Financial Group from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, October 5th. JPMorgan Chase & Co. increased their price objective on Citizens Financial Group from $39.50 to $43.00 in a research report on Wednesday, November 2nd. The Goldman Sachs Group reduced their price target on Citizens Financial Group from $47.00 to $41.00 and set a “buy” rating for the company in a report on Monday, October 3rd. Finally, Compass Point dropped their price objective on Citizens Financial Group to $42.00 in a research note on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.71.
Citizens Financial Group Stock Up 0.4 %
Citizens Financial Group (NYSE:CFG – Get Rating) last released its earnings results on Wednesday, October 19th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.09. Citizens Financial Group had a net margin of 24.05% and a return on equity of 10.88%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $1.22 earnings per share. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 4.13 EPS for the current year.
Citizens Financial Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 16th. Investors of record on Wednesday, November 2nd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.04%. The ex-dividend date was Tuesday, November 1st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 42.00%.
About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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