Citizens Financial Group, Inc. (CFG) Holdings Reduced by PointState Capital LP
PointState Capital LP reduced its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 63.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 869,154 shares of the bank’s stock after selling 1,502,746 shares during the period. PointState Capital LP owned approximately 0.17% of Citizens Financial Group worth $31,011,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sciencast Management LP bought a new position in Citizens Financial Group in the 2nd quarter worth approximately $307,000. Maverick Capital Ltd. bought a new position in Citizens Financial Group in the 2nd quarter worth approximately $2,423,000. Dana Investment Advisors Inc. increased its position in Citizens Financial Group by 3.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 896,296 shares of the bank’s stock worth $31,980,000 after buying an additional 33,183 shares during the period. Janus Henderson Group PLC increased its position in Citizens Financial Group by 2,682.0% in the 2nd quarter. Janus Henderson Group PLC now owns 8,138,852 shares of the bank’s stock worth $290,393,000 after buying an additional 7,846,303 shares during the period. Finally, Horizon Investment Services LLC increased its position in Citizens Financial Group by 31.2% in the 2nd quarter. Horizon Investment Services LLC now owns 144,257 shares of the bank’s stock worth $5,147,000 after buying an additional 34,268 shares during the period. 96.76% of the stock is currently owned by institutional investors.
Shares of Citizens Financial Group, Inc. (NYSE CFG) traded up 0.3132% during mid-day trading on Friday, reaching $37.2463. The company had a trading volume of 2,404,994 shares. The firm’s 50 day moving average is $34.75 and its 200-day moving average is $35.23. Citizens Financial Group, Inc. has a 12-month low of $24.22 and a 12-month high of $39.75. The stock has a market capitalization of $18.65 billion, a P/E ratio of 15.9036 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $1.40 billion. During the same quarter last year, the company earned $0.46 EPS. The company’s revenue was up 9.2% on a year-over-year basis. On average, analysts expect that Citizens Financial Group, Inc. will post $2.54 earnings per share for the current fiscal year.
Citizens Financial Group declared that its board has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on the company. Bank of America Corporation reaffirmed an “underperform” rating and issued a $40.00 price target (down from $41.00) on shares of Citizens Financial Group in a research report on Monday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $36.00 price target (up from $34.00) on shares of Citizens Financial Group in a research report on Tuesday, September 26th. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, September 25th. Sanford C. Bernstein raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. Finally, BidaskClub raised Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Citizens Financial Group has an average rating of “Hold” and a consensus target price of $36.35.
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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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