Wells Fargo & Company MN Has $111.06 Million Position in Citizens Financial Group, Inc. (CFG)

Wells Fargo & Company MN decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 14.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,112,581 shares of the bank’s stock after selling 516,935 shares during the period. Wells Fargo & Company MN owned 0.62% of Citizens Financial Group worth $111,058,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Alps Advisors Inc. lifted its holdings in shares of Citizens Financial Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock valued at $459,000 after acquiring an additional 33 shares during the last quarter. Smithfield Trust Co. lifted its holdings in shares of Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after acquiring an additional 70 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Citizens Financial Group by 0.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the bank’s stock valued at $1,120,000 after acquiring an additional 100 shares during the last quarter. Bancorpsouth Inc. lifted its holdings in shares of Citizens Financial Group by 0.9% in the 1st quarter. Bancorpsouth Inc. now owns 14,542 shares of the bank’s stock valued at $502,000 after acquiring an additional 131 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Citizens Financial Group by 1.5% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 9,829 shares of the bank’s stock valued at $340,000 after acquiring an additional 149 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Citizens Financial Group, Inc. (NYSE CFG) opened at 33.46 on Tuesday. The company has a market cap of $16.75 billion, a P/E ratio of 14.29 and a beta of 1.32. The firm has a 50-day moving average of $34.08 and a 200 day moving average of $35.39. Citizens Financial Group, Inc. has a 52 week low of $23.81 and a 52 week high of $39.75.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.

Citizens Financial Group announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $850.00 million in shares. This repurchase authorization permits the bank to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were paid a $0.18 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, July 31st. This represents a $0.72 annualized dividend and a dividend yield of 2.15%. Citizens Financial Group’s dividend payout ratio is 30.64%.

A number of research analysts recently commented on CFG shares. Macquarie started coverage on shares of Citizens Financial Group in a report on Thursday, May 18th. They issued an “underperform” rating and a $33.00 price target for the company. BMO Capital Markets started coverage on shares of Citizens Financial Group in a report on Thursday, May 25th. They issued a “market perform” rating and a $39.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $41.00 price target (up previously from $40.00) on shares of Citizens Financial Group in a report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Citigroup Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $35.19.

TRADEMARK VIOLATION NOTICE: “Wells Fargo & Company MN Has $111.06 Million Position in Citizens Financial Group, Inc. (CFG)” was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.themarketsdaily.com/2017/09/12/wells-fargo-company-mn-has-111-06-million-position-in-citizens-financial-group-inc-cfg.html.

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.

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

Receive News & Ratings for Citizens Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply