Redwood Investments LLC decreased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,866 shares of the bank’s stock after selling 45,433 shares during the period. Redwood Investments LLC owned approximately 0.05% of Citizens Financial Group worth $9,165,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CFG. Vanguard Group Inc. increased its position in Citizens Financial Group by 5.3% in the first quarter. Vanguard Group Inc. now owns 51,859,836 shares of the bank’s stock valued at $1,791,757,000 after buying an additional 2,616,045 shares during the last quarter. BlackRock Inc. increased its position in Citizens Financial Group by 1,533.4% in the first quarter. BlackRock Inc. now owns 42,692,103 shares of the bank’s stock valued at $1,475,015,000 after buying an additional 40,078,389 shares during the last quarter. JPMorgan Chase & Co. increased its position in Citizens Financial Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 16,827,697 shares of the bank’s stock valued at $581,396,000 after buying an additional 391,502 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Citizens Financial Group by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 6,613,670 shares of the bank’s stock valued at $228,502,000 after buying an additional 58,865 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Citizens Financial Group by 25.3% in the first quarter. AQR Capital Management LLC now owns 5,785,410 shares of the bank’s stock valued at $199,886,000 after buying an additional 1,166,959 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

Citizens Financial Group, Inc. (NYSE:CFG) opened at 33.06 on Monday. The company has a market cap of $16.55 billion, a P/E ratio of 14.12 and a beta of 1.31. Citizens Financial Group, Inc. has a 52 week low of $23.20 and a 52 week high of $39.75. The firm has a 50-day moving average price of $35.34 and a 200 day moving average price of $35.81.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Analysts expect that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.

Citizens Financial Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $850.00 million in shares. This buyback authorization permits the bank to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were paid a dividend of $0.18 per share. The ex-dividend date was Monday, July 31st. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 2.18%. Citizens Financial Group’s dividend payout ratio is presently 30.64%.

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Several research analysts have recently weighed in on CFG shares. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Tuesday, July 4th. BidaskClub upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. TheStreet upgraded Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Citizens Financial Group in a research note on Thursday, June 22nd. Finally, Rafferty Capital Markets reiterated a “buy” rating and set a $40.00 price target (up previously from $36.00) on shares of Citizens Financial Group in a research note on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $35.19.

About Citizens Financial Group

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.

Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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