Boston Partners raised its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 883,738 shares of the bank’s stock after buying an additional 109,423 shares during the quarter. Boston Partners’ holdings in Citizens Financial Group were worth $37,099,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter valued at about $131,000. Lipe & Dalton purchased a new stake in shares of Citizens Financial Group during the third quarter valued at about $207,000. Colony Group LLC purchased a new stake in shares of Citizens Financial Group during the second quarter valued at about $210,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Citizens Financial Group during the fourth quarter valued at about $216,000. Finally, Quotient Investors LLC purchased a new stake in shares of Citizens Financial Group during the third quarter valued at about $227,000. 98.38% of the stock is owned by institutional investors and hedge funds.
In other news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $161,240.00. Following the transaction, the director now owns 12,917 shares in the company, valued at $520,684.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, January 19th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. sell-side analysts forecast that Citizens Financial Group Inc will post 3.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.97%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.18. Citizens Financial Group’s dividend payout ratio is 26.91%.
CFG has been the subject of several analyst reports. Oppenheimer reissued a “hold” rating on shares of Citizens Financial Group in a research report on Monday, October 23rd. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Barclays increased their price target on shares of Citizens Financial Group from $41.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. BMO Capital Markets raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $40.00 to $39.00 in a research report on Tuesday, December 19th. Finally, Morgan Stanley increased their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.36.
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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.
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