Virginia Retirement Systems ET AL held its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 290,400 shares of the bank’s stock at the end of the second quarter. Virginia Retirement Systems ET AL owned 0.06% of Citizens Financial Group worth $10,361,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Citizens Financial Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 16,827,697 shares of the bank’s stock worth $581,396,000 after buying an additional 391,502 shares during the last quarter. BB&T Corp boosted its stake in shares of Citizens Financial Group by 149.6% in the first quarter. BB&T Corp now owns 132,713 shares of the bank’s stock worth $4,585,000 after buying an additional 79,534 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Citizens Financial Group by 32.7% in the first quarter. Ameriprise Financial Inc. now owns 1,920,287 shares of the bank’s stock worth $66,349,000 after buying an additional 473,580 shares during the last quarter. Korea Investment CORP boosted its stake in shares of Citizens Financial Group by 137.7% in the first quarter. Korea Investment CORP now owns 555,293 shares of the bank’s stock worth $19,185,000 after buying an additional 321,680 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Citizens Financial Group by 58.8% in the first quarter. Toronto Dominion Bank now owns 140,245 shares of the bank’s stock worth $4,846,000 after buying an additional 51,911 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Citizens Financial Group, Inc. (NYSE CFG) opened at 34.00 on Friday. The company’s 50-day moving average is $35.04 and its 200 day moving average is $35.72. The firm has a market capitalization of $17.02 billion, a PE ratio of 14.52 and a beta of 1.31. Citizens Financial Group, Inc. has a 1-year low of $23.64 and a 1-year high of $39.75.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, July 31st. This represents a $0.72 annualized dividend and a dividend yield of 2.12%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. Citizens Financial Group’s dividend payout ratio (DPR) is presently 30.64%.

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

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CFG has been the subject of a number of analyst reports. Wedbush upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $39.00 to $41.00 in a research note on Monday, May 1st. TheStreet cut shares of Citizens Financial Group from a “b-” rating to a “c” rating in a research note on Monday, June 26th. Zacks Investment Research cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BMO Capital Markets restated a “market perform” rating and issued a $39.00 price objective (up from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Finally, BidaskClub upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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.

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

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