BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,603 shares of the bank’s stock after acquiring an additional 15,267 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.11% of Citizens Financial Group worth $20,511,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Alps Advisors Inc. lifted its position in Citizens Financial Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock worth $459,000 after purchasing an additional 33 shares during the period. Smithfield Trust Co. raised its stake in shares of Citizens Financial Group by 1.4% during the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after purchasing an additional 70 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in shares of Citizens Financial Group by 1.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 7,101 shares of the bank’s stock worth $250,000 after acquiring an additional 76 shares during the last quarter. Veritable L.P. increased its holdings in shares of Citizens Financial Group by 1.2% during the 2nd quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after acquiring an additional 79 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Citizens Financial Group by 2.8% during the 2nd quarter. D.A. Davidson & CO. now owns 6,845 shares of the bank’s stock worth $244,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.
CFG has been the topic of a number of research reports. TheStreet raised Citizens Financial Group from a “c” rating to an “a+” rating in a report on Monday, November 27th. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Tuesday, September 12th. Keefe, Bruyette & Woods set a $40.00 price objective on Citizens Financial Group and gave the stock a “buy” rating in a research report on Friday, August 11th. Barclays increased their target price on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Finally, Deutsche Bank reissued a “hold” rating and issued a $36.00 price target (up previously from $34.00) on shares of Citizens Financial Group in a research note on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $40.23.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, October 20th. The bank reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. analysts forecast that Citizens Financial Group Inc will post 2.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, October 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 29.15%.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the completion of the transaction, the director now owns 12,917 shares of the company’s stock, valued at approximately $520,684.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
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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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