Ameriprise Financial Inc. boosted its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 32.7% during the first quarter, Holdings Channel reports. The fund owned 1,920,287 shares of the bank’s stock after buying an additional 473,580 shares during the period. Ameriprise Financial Inc.’s holdings in Citizens Financial Group were worth $66,349,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Virtus Investment Advisers Inc. purchased a new position in Citizens Financial Group during the third quarter worth $106,000. Harvest Fund Management Co. Ltd purchased a new position in Citizens Financial Group during the fourth quarter worth $119,000. FTB Advisors Inc. boosted its position in Citizens Financial Group by 39.5% in the first quarter. FTB Advisors Inc. now owns 3,381 shares of the bank’s stock worth $124,000 after buying an additional 957 shares during the last quarter. SRB Corp boosted its position in 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 last quarter. Finally, Coconut Grove Bank boosted its position in Citizens Financial Group by 59.1% in the first quarter. Coconut Grove Bank now owns 4,845 shares of the bank’s stock worth $167,000 after buying an additional 1,800 shares during the last quarter. 97.12% of the stock is owned by institutional investors.
Citizens Financial Group Inc (NYSE:CFG) traded up 0.32% during mid-day trading on Friday, hitting $34.57. 5,270,214 shares of the stock were exchanged. The company has a market cap of $17.51 billion, a P/E ratio of 15.93 and a beta of 1.36. The company has a 50-day moving average price of $35.64 and a 200-day moving average price of $35.06. Citizens Financial Group Inc has a one year low of $18.34 and a one year high of $39.75.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Thursday, April 20th. The bank reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Citizens Financial Group had a net margin of 18.13% and a return on equity of 5.19%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts forecast that Citizens Financial Group Inc will post $2.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 17th. Shareholders of record on Wednesday, May 3rd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, May 1st. This represents a $0.56 annualized dividend and a yield of 1.63%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 28.28%.
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A number of research analysts have weighed in on the stock. Wedbush raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $41.00 in a report on Monday, May 1st. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Saturday, April 22nd. Piper Jaffray Companies raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $41.00 in a report on Friday, April 21st. Citigroup Inc reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Sunday, January 22nd. Finally, Keefe, Bruyette & Woods set a $39.00 target price on shares of Citizens Financial Group and gave the stock a “buy” rating in a research note on Saturday, March 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $34.77.
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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