Barings LLC Grows Holdings in Citizens Financial Group Inc (CFG)
Barings LLC boosted its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 45.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,900 shares of the bank’s stock after purchasing an additional 27,000 shares during the period. Barings LLC’s holdings in Citizens Financial Group were worth $3,291,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CFG. Nisa Investment Advisors LLC increased its holdings in Citizens Financial Group by 15.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,154 shares of the bank’s stock worth $1,181,000 after purchasing an additional 4,535 shares in the last quarter. US Bancorp DE grew its holdings in shares of Citizens Financial Group by 18.7% in the 2nd quarter. US Bancorp DE now owns 47,736 shares of the bank’s stock valued at $1,703,000 after acquiring an additional 7,518 shares in the last quarter. IBM Retirement Fund grew its holdings in shares of Citizens Financial Group by 109.5% in the 2nd quarter. IBM Retirement Fund now owns 12,393 shares of the bank’s stock valued at $494,000 after acquiring an additional 6,478 shares in the last quarter. Eagle Global Advisors LLC bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $215,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Citizens Financial Group by 47.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 626,108 shares of the bank’s stock valued at $22,311,000 after acquiring an additional 201,826 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.
Several brokerages have recently weighed in on CFG. TheStreet upgraded Citizens Financial Group from a “c” rating to an “a+” rating in a report on Monday. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Oppenheimer restated a “hold” rating on shares of Citizens Financial Group in a report on Monday, October 23rd. Barclays raised their price objective on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, Citigroup restated a “neutral” rating and issued a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Citizens Financial Group presently has an average rating of “Hold” and an average price target of $40.00.
Shares of Citizens Financial Group Inc (CFG) traded up $0.03 during trading hours on Friday, reaching $40.70. 13,191,000 shares of the company traded hands, compared to its average volume of 4,727,070. Citizens Financial Group Inc has a twelve month low of $31.51 and a twelve month high of $41.77. The firm has a market cap of $19,079.43, a P/E ratio of 15.70, a P/E/G ratio of 0.99 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.97.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $0.52 EPS. Citizens Financial Group’s revenue was up 4.6% on a year-over-year basis. equities research analysts anticipate that Citizens Financial Group Inc will post 2.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.77%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 29.15%.
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Citizens Financial Group 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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