Horizon Investment Services LLC Acquires 34,268 Shares of Citizens Financial Group Inc (CFG)
Horizon Investment Services LLC raised its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 31.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,257 shares of the bank’s stock after purchasing an additional 34,268 shares during the quarter. Citizens Financial Group makes up approximately 2.3% of Horizon Investment Services LLC’s portfolio, making the stock its 14th largest holding. Horizon Investment Services LLC’s holdings in Citizens Financial Group were worth $5,147,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CFG. Sun Life Financial INC boosted its position in Citizens Financial Group by 41,266.7% during the second quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock worth $133,000 after purchasing an additional 3,714 shares during the period. 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 worth $178,000 after purchasing an additional 70 shares in the last quarter. Courier Capital LLC purchased a new position in shares of Citizens Financial Group in the second quarter worth about $214,000. Eagle Global Advisors LLC purchased a new position in shares of Citizens Financial Group in the second quarter worth about $215,000. Finally, Veritable L.P. increased its stake in shares of Citizens Financial Group by 1.2% in the second quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after purchasing an additional 79 shares in the last quarter. 96.76% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on the stock. Morgan Stanley restated an “overweight” rating and set a $41.00 price target (up from $40.00) on shares of Citizens Financial Group in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Monday, September 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $39.00 price objective (up from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Deutsche Bank AG reissued a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. Finally, Citigroup Inc. reissued a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Citizens Financial Group has an average rating of “Hold” and a consensus target price of $36.35.
Citizens Financial Group Inc (NYSE CFG) traded down 0.54% during trading on Wednesday, reaching $36.64. The company had a trading volume of 5,795,865 shares. The firm has a market capitalization of $18.34 billion, a P/E ratio of 15.64 and a beta of 1.37. The firm’s 50-day moving average price is $34.58 and its 200 day moving average price is $35.21. Citizens Financial Group Inc has a one year low of $24.22 and a one year high of $39.75.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Citizens Financial Group had a net margin of 22.78% and a return on equity of 6.47%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities analysts forecast that Citizens Financial Group Inc will post $2.54 earnings per share for the current fiscal year.
Citizens Financial Group announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $850.00 million in shares. This repurchase authorization permits the bank to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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