Raymond James & Associates lessened its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 27.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,143 shares of the bank’s stock after selling 62,956 shares during the quarter. Raymond James & Associates’ holdings in Citizens Financial Group were worth $4,969,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CFG. Exane Asset Management purchased a new stake in Citizens Financial Group in the 4th quarter valued at $42,000. CWM LLC raised its position in Citizens Financial Group by 29.3% in the 4th quarter. CWM LLC now owns 1,536 shares of the bank’s stock valued at $46,000 after purchasing an additional 348 shares during the last quarter. Huntington National Bank raised its position in Citizens Financial Group by 75.3% in the 4th quarter. Huntington National Bank now owns 1,804 shares of the bank’s stock valued at $54,000 after purchasing an additional 775 shares during the last quarter. Investec Asset Management PTY Ltd raised its position in Citizens Financial Group by 62.4% in the 4th quarter. Investec Asset Management PTY Ltd now owns 1,808 shares of the bank’s stock valued at $54,000 after purchasing an additional 695 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in Citizens Financial Group in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 96.94% of the company’s stock.
In other Citizens Financial Group news, Director Shivan S. Subramaniam acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were acquired at an average cost of $35.32 per share, for a total transaction of $105,960.00. Following the transaction, the director now directly owns 38,963 shares of the company’s stock, valued at $1,376,173.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.
Shares of NYSE:CFG traded up $0.13 on Monday, reaching $35.45. 3,070,197 shares of the company were exchanged, compared to its average volume of 5,307,610. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. Citizens Financial Group Inc has a 1-year low of $27.62 and a 1-year high of $46.96. The stock has a market cap of $16.53 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.59 and a beta of 1.42.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 18th. The bank reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. Citizens Financial Group had a net margin of 23.20% and a return on equity of 8.67%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts anticipate that Citizens Financial Group Inc will post 3.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.27. This represents a $1.28 annualized dividend and a dividend yield of 3.61%. Citizens Financial Group’s payout ratio is currently 35.96%.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday. Citigroup upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $41.00 to $37.00 in a research report on Wednesday, January 9th. Goldman Sachs Group upgraded shares of Citizens Financial Group to a “buy” rating and reduced their price target for the company from $44.00 to $40.00 in a research report on Monday, January 7th. Barclays reduced their price target on shares of Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Finally, Royal Bank of Canada upgraded shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $40.91.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide 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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