Stoneridge Investment Partners LLC Has $3.77 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)
Stoneridge Investment Partners LLC boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 105,716 shares of the bank’s stock after buying an additional 63 shares during the period. Stoneridge Investment Partners LLC’s holdings in Citizens Financial Group were worth $3,772,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. FTB Advisors Inc. boosted its position in Citizens Financial Group by 39.5% in the first quarter. FTB Advisors Inc. now owns 3,381 shares of the bank’s stock valued at $124,000 after buying an additional 957 shares in the last quarter. Coconut Grove Bank boosted its position in Citizens Financial Group by 59.1% in the first quarter. Coconut Grove Bank now owns 4,845 shares of the bank’s stock valued at $167,000 after buying an additional 1,800 shares in the last quarter. Smithfield Trust Co. increased its stake in shares of 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. Advisor Partners LLC acquired a new stake in shares of Citizens Financial Group during the first quarter valued at about $203,000. Finally, IFP Advisors Inc increased its stake in shares of Citizens Financial Group by 9.3% in the first quarter. IFP Advisors Inc now owns 5,899 shares of the bank’s stock valued at $204,000 after buying an additional 504 shares in the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.
Shares of Citizens Financial Group, Inc. (CFG) opened at 35.03 on Thursday. The stock’s 50 day moving average price is $35.63 and its 200-day moving average price is $35.96. The firm has a market cap of $17.72 billion, a P/E ratio of 14.96 and a beta of 1.31. Citizens Financial Group, Inc. has a 12-month low of $22.96 and a 12-month high of $39.75.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, analysts predict 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. Stockholders of record on Wednesday, August 2nd will be paid a dividend of $0.18 per share. This is an increase 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 dividend yield of 2.06%. Citizens Financial Group’s dividend payout ratio is presently 30.64%.
Citizens Financial Group declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $850.00 million in shares. This buyback authorization permits the bank to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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CFG has been the subject of several research reports. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Tuesday, July 4th. BidaskClub raised Citizens Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Citigroup Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Friday, April 21st. TheStreet raised Citizens Financial Group from a “c” rating to a “b-” rating in a report on Monday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price 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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