Teachers Advisors LLC boosted its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,339,501 shares of the bank’s stock after buying an additional 222,966 shares during the quarter. Teachers Advisors LLC owned approximately 0.86% of Citizens Financial Group worth $154,833,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Citizens Financial Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 16,827,697 shares of the bank’s stock valued at $581,396,000 after buying an additional 391,502 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Citizens Financial Group by 32.7% in the first quarter. Ameriprise Financial Inc. now owns 1,920,287 shares of the bank’s stock valued at $66,349,000 after buying an additional 473,580 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Citizens Financial Group by 4.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock valued at $40,426,000 after buying an additional 47,855 shares during the last quarter. Toronto Dominion Bank increased its holdings in Citizens Financial Group by 58.8% in the first quarter. Toronto Dominion Bank now owns 140,245 shares of the bank’s stock valued at $4,846,000 after buying an additional 51,911 shares during the last quarter. Finally, Bancorpsouth Inc. increased its holdings in Citizens Financial Group by 0.9% in the first quarter. Bancorpsouth Inc. now owns 14,542 shares of the bank’s stock valued at $502,000 after buying an additional 131 shares during the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.
CFG has been the topic of several recent analyst reports. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub raised Citizens Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. TheStreet raised Citizens Financial Group from a “c” rating to a “b-” rating in a report on Monday, August 7th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Finally, Macquarie assumed coverage on Citizens Financial Group in a report on Thursday, May 18th. They set an “underperform” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.19.
Shares of Citizens Financial Group, Inc. (CFG) traded up 3.332% during midday trading on Tuesday, hitting $34.575. 2,457,992 shares of the stock traded hands. The firm has a 50-day moving average price of $34.08 and a 200 day moving average price of $35.39. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 14.763 and a beta of 1.32. Citizens Financial Group, Inc. has a one year low of $23.81 and a one year high of $39.75.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts anticipate that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current year.
Citizens Financial Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that allows the company to buyback $850.00 million in shares. This buyback authorization allows the bank to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, July 31st. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.14. Citizens Financial Group’s dividend payout ratio is currently 30.64%.
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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