Bp Plc acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,000 shares of the bank’s stock, valued at approximately $2,140,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFG. 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. boosted its position 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. Advisor Partners LLC acquired a new position in Citizens Financial Group during the first quarter valued at $203,000. Finally, IFP Advisors Inc boosted its position in 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 currently owned by institutional investors and hedge funds.

Shares of Citizens Financial Group, Inc. (NYSE CFG) opened at 33.71 on Friday. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 14.39 and a beta of 1.31. Citizens Financial Group, Inc. has a 1-year low of $22.96 and a 1-year high of $39.75. The company’s 50 day moving average price is $35.58 and its 200-day moving average price is $35.94.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company had revenue of $1.40 billion for 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%. Citizens Financial Group’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. On average, equities analysts forecast that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd will be given a dividend of $0.18 per share. The ex-dividend date is Monday, July 31st. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 2.14%. Citizens Financial Group’s payout ratio is 30.64%.

Citizens Financial Group declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $850.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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Several research firms have weighed in on CFG. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. TheStreet raised Citizens Financial Group from a “c” rating to a “b-” rating in a research report on Monday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a research report on Saturday, April 22nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $39.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research report on Tuesday, July 25th. Finally, BidaskClub cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus 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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