Toronto Dominion Bank decreased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 261,561 shares of the bank’s stock after selling 4,265 shares during the period. Toronto Dominion Bank’s holdings in Citizens Financial Group were worth $11,548,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Leelyn Smith LLC acquired a new stake in shares of Citizens Financial Group during the 1st quarter worth approximately $28,000. Vantage Consulting Group Inc bought a new position in shares of Citizens Financial Group in the 4th quarter worth $27,000. RBA Wealth Management LLC bought a new position in shares of Citizens Financial Group in the 1st quarter worth $38,000. Alpha DNA Investment Management LLC bought a new position in shares of Citizens Financial Group in the 4th quarter worth $31,000. Finally, Reby Advisors LLC bought a new position in shares of Citizens Financial Group in the 4th quarter worth $31,000. 92.43% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on CFG shares. Argus increased their target price on Citizens Financial Group from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, April 19th. Jefferies Financial Group increased their target price on Citizens Financial Group from $42.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, April 9th. Morgan Stanley increased their target price on Citizens Financial Group from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, May 26th. Compass Point raised their price objective on Citizens Financial Group from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, May 18th. Finally, Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research note on Friday, May 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $48.60.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 15th. The bank reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.40. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Citizens Financial Group had a return on equity of 8.16% and a net margin of 21.53%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. Equities research analysts forecast that Citizens Financial Group, Inc. will post 4.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Thursday, April 29th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, April 28th. Citizens Financial Group’s payout ratio is 64.73%.
About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
Recommended Story: Cash Flow Analysis in Stock Selection
Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG).
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.