MV Capital Management Inc. increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,660 shares of the bank’s stock after buying an additional 1,346 shares during the period. MV Capital Management Inc.’s holdings in Citizens Financial Group were worth $273,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CFG. TD Asset Management Inc. increased its stake in Citizens Financial Group by 9.9% in the second quarter. TD Asset Management Inc. now owns 1,042,933 shares of the bank’s stock valued at $37,211,000 after buying an additional 93,709 shares in the last quarter. Goelzer Investment Management Inc. increased its stake in Citizens Financial Group by 3.7% in the second quarter. Goelzer Investment Management Inc. now owns 192,357 shares of the bank’s stock valued at $6,863,000 after buying an additional 6,858 shares in the last quarter. Tdam USA Inc. increased its stake in Citizens Financial Group by 7.9% in the second quarter. Tdam USA Inc. now owns 228,175 shares of the bank’s stock valued at $8,134,000 after buying an additional 16,616 shares in the last quarter. IFP Advisors Inc increased its stake in Citizens Financial Group by 172.1% in the second quarter. IFP Advisors Inc now owns 16,050 shares of the bank’s stock valued at $573,000 after buying an additional 10,151 shares in the last quarter. Finally, Smithfield Trust Co. increased its stake in Citizens Financial Group by 1.4% in the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Citizens Financial Group, Inc. (NYSE:CFG) opened at 35.35 on Tuesday. Citizens Financial Group, Inc. has a 12 month low of $22.86 and a 12 month high of $39.75. The stock has a 50 day moving average price of $35.82 and a 200 day moving average price of $35.96. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 15.09 and a beta of 1.31.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, topping 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 business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm earned $0.46 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd will be issued a $0.18 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, July 31st. This represents a $0.72 annualized dividend and a yield of 2.04%. Citizens Financial Group’s dividend payout ratio is 30.64%.

Citizens Financial Group declared that its board has approved 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 buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Friday, July 28th. BidaskClub downgraded Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BMO Capital Markets restated a “market perform” rating and set a $39.00 price objective (up from $38.00) on shares of Citizens Financial Group in a report on Tuesday, July 25th. Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. Finally, TheStreet downgraded Citizens Financial Group from a “b-” rating to a “c” rating in a report on Monday, June 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $35.19.

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

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