Old Mutual Global Investors UK Ltd. Has $15.97 Million Holdings in Citizens Financial Group, Inc. (CFG)
Old Mutual Global Investors UK Ltd. boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 239.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 447,689 shares of the bank’s stock after buying an additional 315,808 shares during the period. Old Mutual Global Investors UK Ltd. owned 0.09% of Citizens Financial Group worth $15,973,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Alps Advisors Inc. increased its position in Citizens Financial Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock worth $459,000 after buying an additional 33 shares during the period. Smithfield Trust Co. increased its position in 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 during the period. Louisiana State Employees Retirement System increased its position in Citizens Financial Group by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the bank’s stock worth $1,120,000 after buying an additional 100 shares during the period. Bancorpsouth Inc. increased its position in Citizens Financial Group by 0.9% in the first quarter. Bancorpsouth Inc. now owns 14,542 shares of the bank’s stock worth $502,000 after buying an additional 131 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in Citizens Financial Group by 1.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,829 shares of the bank’s stock worth $340,000 after buying an additional 149 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on CFG shares. BidaskClub raised Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. TheStreet lowered Citizens Financial Group from a “b-” rating to a “c” rating in a report on Monday, June 26th. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reissued a “market perform” rating and set a $39.00 price target (up from $38.00) on shares of Citizens Financial Group in a report on Tuesday, July 25th. Finally, Macquarie began coverage on Citizens Financial Group in a report on Thursday, May 18th. They set an “underperform” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.19.
Citizens Financial Group, Inc. (NYSE CFG) opened at 32.08 on Friday. Citizens Financial Group, Inc. has a 12-month low of $23.81 and a 12-month high of $39.75. The company’s 50-day moving average price is $34.16 and its 200-day moving average price is $35.46. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 13.70 and a beta of 1.32.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company 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 firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. Equities analysts expect that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were given a dividend of $0.18 per share. The ex-dividend date was Monday, July 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.14. Citizens Financial Group’s payout ratio is presently 30.64%.
Citizens Financial Group announced that its board has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $850.00 million in shares. This buyback authorization permits the bank to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Citizens Financial Group 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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