OMERS ADMINISTRATION Corp Invests $1.23 Million in Citizens Financial Group, Inc. (CFG)
OMERS ADMINISTRATION Corp acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 34,500 shares of the bank’s stock, valued at approximately $1,231,000.
A number of other hedge funds also recently bought and sold shares of the company. FTB Advisors Inc. increased its position in shares of Citizens Financial Group by 39.5% in the first quarter. FTB Advisors Inc. now owns 3,381 shares of the bank’s stock worth $124,000 after buying an additional 957 shares in the last quarter. Smithfield Trust Co. increased its position in shares of Citizens Financial Group by 1.4% in the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after buying an additional 70 shares in the last quarter. Advisor Partners LLC acquired a new position in shares of Citizens Financial Group during the first quarter worth $203,000. IFP Advisors Inc increased its position in shares of Citizens Financial Group by 9.3% in the first quarter. IFP Advisors Inc now owns 5,899 shares of the bank’s stock worth $204,000 after buying an additional 504 shares in the last quarter. Finally, Eagle Global Advisors LLC acquired a new position in shares of Citizens Financial Group during the second quarter worth $215,000. Hedge funds and other institutional investors own 96.83% of the company’s stock.
Shares of Citizens Financial Group, Inc. (CFG) opened at 33.61 on Friday. The company has a market cap of $16.83 billion, a PE ratio of 14.35 and a beta of 1.33. The firm’s 50-day moving average price is $34.48 and its 200-day moving average price is $35.60. Citizens Financial Group, Inc. has a 12 month low of $23.64 and a 12 month high of $39.75.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. Equities analysts predict that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.14%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 30.64%.
Citizens Financial Group declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $850.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of equities 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 target price on the stock in a report on Tuesday, July 4th. BidaskClub upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. TheStreet upgraded Citizens Financial Group from a “c” rating to a “b-” rating in a report on Monday, August 7th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Finally, Macquarie started coverage on Citizens Financial Group in a report on Thursday, May 18th. They issued an “underperform” rating and a $33.00 target price on the stock. 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 stock currently has a consensus rating of “Hold” and an average target price of $35.19.
Citizens Financial Group Company Profile
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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