BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 26.8% during the second quarter, HoldingsChannel reports. The firm owned 337,336 shares of the bank’s stock after selling 123,626 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Citizens Financial Group were worth $13,122,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. raised its stake in shares of Citizens Financial Group by 150.0% in the first quarter. Hennessy Advisors Inc. now owns 50,000 shares of the bank’s stock valued at $2,099,000 after acquiring an additional 30,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Citizens Financial Group by 15.1% in the first quarter. Wells Fargo & Company MN now owns 3,176,239 shares of the bank’s stock valued at $133,338,000 after acquiring an additional 415,983 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Citizens Financial Group by 92.8% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 130,071 shares of the bank’s stock valued at $5,381,000 after acquiring an additional 62,621 shares during the last quarter. Sentry Investment Management LLC raised its stake in shares of Citizens Financial Group by 4.6% in the first quarter. Sentry Investment Management LLC now owns 35,980 shares of the bank’s stock valued at $1,510,000 after acquiring an additional 1,584 shares during the last quarter. Finally, ARP Americas LP raised its stake in shares of Citizens Financial Group by 153.7% in the first quarter. ARP Americas LP now owns 20,466 shares of the bank’s stock valued at $859,000 after acquiring an additional 12,400 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

CFG stock opened at $41.50 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.98 and a quick ratio of 0.98. Citizens Financial Group Inc has a fifty-two week low of $31.51 and a fifty-two week high of $48.23. The company has a market capitalization of $19.49 billion, a P/E ratio of 16.09, a P/E/G ratio of 0.55 and a beta of 1.37.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. Citizens Financial Group had a net margin of 26.72% and a return on equity of 7.59%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $0.63 EPS. Citizens Financial Group’s revenue was up 8.1% on a year-over-year basis. sell-side analysts forecast that Citizens Financial Group Inc will post 3.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 1st were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.60%. The ex-dividend date was Tuesday, July 31st. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.22. Citizens Financial Group’s payout ratio is 41.86%.

In related news, insider Randall J. Black sold 792 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $41.49, for a total value of $32,860.08. Following the completion of the transaction, the insider now owns 34,258 shares in the company, valued at approximately $1,421,364.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

A number of research firms have recently issued reports on CFG. Zacks Investment Research cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, May 31st. ValuEngine upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Finally, Robert W. Baird upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Wednesday, May 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Citizens Financial Group has a consensus rating of “Hold” and a consensus target price of $46.40.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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