Twin Tree Management LP Reduces Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Twin Tree Management LP has decreased its stake in Citizens Financial Group by 65.4%, now holding 30,153 shares valued at approximately $1.24 million.
• Several hedge funds have either increased or established new positions in Citizens Financial Group, indicating strong institutional interest, as these investors collectively own 94.90% of the company's stock.
• The company recently reported a quarterly earnings per share of $0.92, surpassing analyst estimates, and declared a quarterly dividend of $0.42 per share.

Twin Tree Management LP trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 65.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,153 shares of the bank's stock after selling 57,120 shares during the period. Twin Tree Management LP's holdings in Citizens Financial Group were worth $1,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. Integrated Wealth Concepts LLC increased its position in Citizens Financial Group by 63.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 8,151 shares of the bank's stock valued at $357,000 after buying an additional 3,176 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in Citizens Financial Group during the 4th quarter valued at approximately $241,000. Lido Advisors LLC increased its position in Citizens Financial Group by 10.4% during the 4th quarter. Lido Advisors LLC now owns 15,027 shares of the bank's stock valued at $658,000 after buying an additional 1,418 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Citizens Financial Group by 52.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 227,969 shares of the bank's stock valued at $9,976,000 after buying an additional 77,969 shares in the last quarter. Finally, AXA S.A. increased its position in Citizens Financial Group by 88.3% during the 4th quarter. AXA S.A. now owns 49,288 shares of the bank's stock valued at $2,157,000 after buying an additional 23,112 shares in the last quarter. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

Shares of CFG traded down $0.80 during trading hours on Friday, hitting $51.71. The stock had a trading volume of 2,996,647 shares, compared to its average volume of 3,398,113. The firm has a market capitalization of $22.31 billion, a PE ratio of 15.72, a PEG ratio of 0.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $52.85. The stock has a fifty day moving average price of $48.76 and a 200 day moving average price of $43.14.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group's dividend payout ratio (DPR) is presently 51.06%.

Citizens Financial Group declared that its board has initiated a share repurchase program on Friday, June 13th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 8.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group initiated coverage on Citizens Financial Group in a research report on Wednesday, May 21st. They set a "buy" rating and a $50.00 price objective for the company. Raymond James Financial increased their price target on shares of Citizens Financial Group from $48.00 to $57.00 and gave the company a "strong-buy" rating in a report on Friday, July 18th. Evercore ISI upgraded shares of Citizens Financial Group from an "in-line" rating to an "outperform" rating and increased their price target for the company from $48.00 to $55.00 in a report on Friday, July 18th. JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a "neutral" rating to an "overweight" rating and increased their price target for the company from $48.50 to $52.00 in a report on Friday, August 1st. Finally, UBS Group increased their price target on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.53.

Citizens Financial Group Profile

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.