Citizens Financial Group Inc (CFG) Holdings Increased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,585,884 shares of the bank’s stock after purchasing an additional 9,558 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.53% of Citizens Financial Group worth $97,928,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CFG. Nisa Investment Advisors LLC boosted its stake in Citizens Financial Group by 15.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,154 shares of the bank’s stock valued at $1,181,000 after purchasing an additional 4,535 shares during the last quarter. US Bancorp DE boosted its stake in Citizens Financial Group by 18.7% during the 2nd quarter. US Bancorp DE now owns 47,736 shares of the bank’s stock valued at $1,703,000 after purchasing an additional 7,518 shares during the last quarter. IBM Retirement Fund boosted its stake in Citizens Financial Group by 109.5% during the 2nd quarter. IBM Retirement Fund now owns 12,393 shares of the bank’s stock valued at $494,000 after purchasing an additional 6,478 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in Citizens Financial Group during the 2nd quarter valued at $215,000. Finally, Great West Life Assurance Co. Can boosted its stake in Citizens Financial Group by 47.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 626,108 shares of the bank’s stock valued at $22,311,000 after purchasing an additional 201,826 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.
Several equities analysts have recently weighed in on the company. BidaskClub cut Citizens Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods set a $40.00 price target on Citizens Financial Group and gave the company a “buy” rating in a report on Friday, August 11th. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. TheStreet raised Citizens Financial Group from a “c” rating to an “a+” rating in a report on Monday, November 27th. Finally, Sanford C. Bernstein raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $38.00 to $43.00 in a report on Thursday, September 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Citizens Financial Group currently has an average rating of “Hold” and an average target price of $40.00.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 20th. The bank reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $0.52 EPS. Citizens Financial Group’s revenue for the quarter was up 4.6% compared to the same quarter last year. sell-side analysts predict that Citizens Financial Group Inc will post 2.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.18 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.77%. Citizens Financial Group’s dividend payout ratio is currently 29.15%.
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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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