J. Safra Sarasin Holding AG cut its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 50.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,168 shares of the bank's stock after selling 14,158 shares during the period. J. Safra Sarasin Holding AG's holdings in Citizens Financial Group were worth $634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont grew its holdings in Citizens Financial Group by 177.5% during the second quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock worth $29,000 after acquiring an additional 410 shares during the period. Investors Research Corp grew its holdings in Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank's stock worth $29,000 after acquiring an additional 500 shares during the period. Grove Bank & Trust grew its holdings in Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after acquiring an additional 334 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank's stock worth $44,000 after acquiring an additional 634 shares during the period. Finally, NBT Bank N A NY acquired a new stake in Citizens Financial Group during the first quarter worth about $45,000. 94.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Barclays raised their target price on Citizens Financial Group from $49.00 to $55.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. DA Davidson raised their target price on Citizens Financial Group from $49.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Citizens Financial Group in a report on Saturday, September 27th. Raymond James Financial increased their price target on Citizens Financial Group from $48.00 to $57.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.70.
Check Out Our Latest Stock Analysis on Citizens Financial Group
Citizens Financial Group Stock Performance
Shares of CFG stock opened at $53.86 on Friday. The company has a market capitalization of $23.23 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.59 and a beta of 0.79. The business's 50 day moving average is $50.68 and its two-hundred day moving average is $44.48. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $54.50.
Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. Analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.
Citizens Financial Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group's dividend payout ratio (DPR) is 51.06%.
Citizens Financial Group declared that its board has authorized a stock repurchase plan on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
Citizens Financial Group Company Profile
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Free Report)
Citizens Financial Group, Inc operates as the bank holding company 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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