Citizens Financial Group Inc (CFG) Position Cut by Scout Investments Inc.
Scout Investments Inc. lowered its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 44.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,562 shares of the bank’s stock after selling 89,142 shares during the quarter. Scout Investments Inc.’s holdings in Citizens Financial Group were worth $4,380,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its position in Citizens Financial Group by 108.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the bank’s stock valued at $19,285,000 after purchasing an additional 260,000 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new stake in Citizens Financial Group during the 3rd quarter valued at $386,000. Bank of Montreal Can raised its position in Citizens Financial Group by 51.9% during the 3rd quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock valued at $204,888,000 after purchasing an additional 1,815,395 shares in the last quarter. Gradient Investments LLC bought a new stake in Citizens Financial Group during the 3rd quarter valued at $8,917,000. Finally, DNB Asset Management AS raised its position in Citizens Financial Group by 12.2% during the 3rd quarter. DNB Asset Management AS now owns 196,494 shares of the bank’s stock valued at $7,579,000 after purchasing an additional 21,317 shares in the last quarter. Institutional investors own 96.79% of the company’s stock.
A number of brokerages have weighed in on CFG. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. ValuEngine raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Morgan Stanley decreased their target price on Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.89.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 20th. The bank reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Citizens Financial Group had a return on equity of 7.59% and a net margin of 26.72%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Research analysts expect that Citizens Financial Group Inc will post 3.5 earnings per share for the current fiscal year.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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