Citizens Financial Group, Inc. (CFG) Holdings Reduced by Marshall Wace North America L.P.
Marshall Wace North America L.P. decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 30.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,221 shares of the bank’s stock after selling 29,993 shares during the period. Marshall Wace North America L.P.’s holdings in Citizens Financial Group were worth $2,456,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FTB Advisors Inc. raised its position in Citizens Financial Group by 39.5% during the 1st quarter. FTB Advisors Inc. now owns 3,381 shares of the bank’s stock valued at $124,000 after purchasing an additional 957 shares during the last quarter. Smithfield Trust Co. raised its position in shares of Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after acquiring an additional 70 shares in the last quarter. Advisor Partners LLC purchased a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $203,000. IFP Advisors Inc grew its stake in shares of Citizens Financial Group by 9.3% in the 1st quarter. IFP Advisors Inc now owns 5,899 shares of the bank’s stock worth $204,000 after buying an additional 504 shares during the last quarter. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth approximately $215,000. 96.86% of the stock is owned by institutional investors and hedge funds.
Shares of Citizens Financial Group, Inc. (CFG) opened at 33.61 on Monday. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 14.35 and a beta of 1.32. Citizens Financial Group, Inc. has a 1-year low of $23.81 and a 1-year high of $39.75. The stock’s 50 day moving average is $34.48 and its 200 day moving average is $35.60.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, equities analysts forecast that Citizens Financial Group, Inc. will post $2.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, July 31st. This represents a $0.72 dividend on an annualized basis and a yield of 2.14%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. Citizens Financial Group’s payout ratio is presently 30.64%.
Citizens Financial Group declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $850.00 million in shares. This repurchase authorization permits the bank to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Several analysts 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 on the stock 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. restated a “hold” rating on shares of Citizens Financial Group in a research note on Thursday, June 22nd. Finally, Macquarie assumed coverage on Citizens Financial Group in a research note on Thursday, May 18th. They issued an “underperform” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Citizens Financial Group presently has a consensus rating of “Hold” and an average price target 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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