Citizens Business Bank Purchases 576 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Citizens Business Bank increased its stake in The Goldman Sachs Group by 5.5%, acquiring an additional 576 shares to hold a total of 11,038 shares valued at approximately $7.81 million.
• The Goldman Sachs Group reported earnings of $12.25 per share for the most recent quarter, exceeding analysts' expectations of $10.27, and achieved a revenue of $11.33 billion.
• The company announced a quarterly dividend of $4.00 per share, which will be paid on December 30th, representing an annualized yield of 2.1%.

Citizens Business Bank increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,038 shares of the investment management company's stock after acquiring an additional 576 shares during the quarter. The Goldman Sachs Group comprises 1.5% of Citizens Business Bank's holdings, making the stock its 17th biggest position. Citizens Business Bank's holdings in The Goldman Sachs Group were worth $7,812,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Winthrop Advisory Group LLC grew its position in The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company's stock worth $303,000 after purchasing an additional 14 shares during the last quarter. Mechanics Financial Corp grew its position in The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company's stock worth $208,000 after purchasing an additional 16 shares during the last quarter. Ridgewood Investments LLC grew its position in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares during the last quarter. Bank of Stockton grew its position in The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock worth $1,759,000 after purchasing an additional 17 shares during the last quarter. Finally, Western Financial Corp CA grew its position in The Goldman Sachs Group by 0.5% during the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $750.71 on Friday. The company's fifty day moving average price is $765.25 and its 200 day moving average price is $669.67. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The company has a market capitalization of $227.25 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.42. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the prior year, the firm posted $8.40 earnings per share. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is 32.50%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a "market perform" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a "hold" rating in a report on Tuesday, September 30th. Barclays upped their price objective on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an "overweight" rating in a report on Wednesday. JMP Securities reaffirmed a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target of $770.73.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.