Lincoln Capital Corp Sells 1,377 Shares of Citizens Financial Group, Inc. $CFG

Lincoln Capital Corp reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 18.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,075 shares of the bank’s stock after selling 1,377 shares during the period. Lincoln Capital Corp’s holdings in Citizens Financial Group were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Citizens Financial Group in the 2nd quarter valued at $1,275,000. Balefire LLC bought a new position in shares of Citizens Financial Group in the second quarter worth $228,000. Czech National Bank increased its position in shares of Citizens Financial Group by 5.6% in the second quarter. Czech National Bank now owns 105,999 shares of the bank’s stock worth $4,743,000 after purchasing an additional 5,596 shares during the period. Parallel Advisors LLC grew its stake in Citizens Financial Group by 26.9% during the second quarter. Parallel Advisors LLC now owns 5,589 shares of the bank’s stock worth $250,000 after buying an additional 1,185 shares in the last quarter. Finally, Investors Research Corp grew its stake in Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after buying an additional 500 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.5%

Shares of CFG stock opened at $51.10 on Wednesday. The stock has a market cap of $22.04 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.56 and a beta of 0.80. The stock has a 50-day moving average of $49.43 and a 200-day moving average of $43.43. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $52.85.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its Board of Directors has authorized a share repurchase program on Friday, June 13th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the bank to buy up to 8.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.06%.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $48.50 to $52.00 in a research note on Friday, August 1st. Jefferies Financial Group initiated coverage on shares of Citizens Financial Group in a research report on Wednesday, May 21st. They set a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Citizens Financial Group in a research report on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price objective for the company. DA Davidson lifted their price target on Citizens Financial Group from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $52.00.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.