Rational Advisors LLC Has $831,000 Stake in Citizens Financial Group, Inc. (CFG)
Rational Advisors LLC continued to hold its position in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, Holdings Channel reports. The firm owned 23,300 shares of the bank’s stock at the end of the second quarter. Rational Advisors LLC’s holdings in Citizens Financial Group were worth $831,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Citizens Financial Group by 1,533.4% in the first quarter. BlackRock Inc. now owns 42,692,103 shares of the bank’s stock valued at $1,475,015,000 after buying an additional 40,078,389 shares in the last quarter. Janus Capital Management LLC raised its position in Citizens Financial Group by 2,490.8% in the first quarter. Janus Capital Management LLC now owns 4,632,828 shares of the bank’s stock valued at $160,064,000 after buying an additional 4,454,009 shares in the last quarter. Vanguard Group Inc. raised its position in Citizens Financial Group by 5.3% in the first quarter. Vanguard Group Inc. now owns 51,859,836 shares of the bank’s stock valued at $1,791,757,000 after buying an additional 2,616,045 shares in the last quarter. Morgan Stanley raised its position in Citizens Financial Group by 113.6% in the first quarter. Morgan Stanley now owns 4,082,306 shares of the bank’s stock valued at $141,044,000 after buying an additional 2,171,368 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Citizens Financial Group by 109.0% in the first quarter. Wells Fargo & Company MN now owns 3,629,516 shares of the bank’s stock valued at $125,400,000 after buying an additional 1,893,291 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. (CFG) opened at 33.39 on Friday. Citizens Financial Group, Inc. has a one year low of $23.20 and a one year high of $39.75. The stock’s 50 day moving average is $35.54 and its 200-day moving average is $35.93. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 14.26 and a beta of 1.31.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ 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 period in the previous year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts predict that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, July 31st. Citizens Financial Group’s payout ratio is currently 30.64%.
Citizens Financial Group announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $850.00 million in shares. This buyback authorization permits the bank to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Several equities analysts have issued reports on CFG shares. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday, July 4th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. Wedbush raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $39.00 to $41.00 in a report on Monday, May 1st. BidaskClub raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Rafferty Capital Markets reaffirmed a “buy” rating and issued a $40.00 price target (up from $36.00) on shares of Citizens Financial Group in a report on Monday, April 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. 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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