First Allied Advisory Services Inc. increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,101 shares of the bank’s stock after purchasing an additional 76 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Citizens Financial Group were worth $250,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CFG. Smithfield Trust Co. lifted its stake in Citizens Financial Group by 1.4% during the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after purchasing an additional 70 shares during the last quarter. Courier Capital LLC purchased a new stake in Citizens Financial Group during the second quarter worth approximately $214,000. Eagle Global Advisors LLC purchased a new stake in Citizens Financial Group during the second quarter worth approximately $215,000. Veritable L.P. lifted its stake in Citizens Financial Group by 1.2% during the second quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after purchasing an additional 79 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Citizens Financial Group during the first quarter worth approximately $242,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Several equities research analysts recently weighed in on CFG shares. BidaskClub upgraded Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. TheStreet upgraded Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Citigroup Inc. reiterated a “neutral” rating and issued a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a research note on Monday. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $39.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Citizens Financial Group has an average rating of “Hold” and an average target price of $37.12.
Citizens Financial Group, Inc. (NYSE:CFG) opened at 37.81 on Wednesday. Citizens Financial Group, Inc. has a 12-month low of $24.22 and a 12-month high of $39.75. The firm has a market cap of $18.93 billion, a price-to-earnings ratio of 16.14 and a beta of 1.37. The stock has a 50 day moving average price of $35.15 and a 200-day moving average price of $35.30.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities analysts forecast that Citizens Financial Group, Inc. will post $2.54 earnings per share for the current year.
Citizens Financial Group announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $850.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
About Citizens Financial Group
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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