Laffer Investments Has $1.80 Million Holdings in Citizens Financial Group Inc (CFG)
Laffer Investments cut its stake in Citizens Financial Group Inc (NYSE:CFG) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,600 shares of the bank’s stock after selling 3,570 shares during the quarter. Laffer Investments’ holdings in Citizens Financial Group were worth $1,803,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CFG. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Citizens Financial Group by 4.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after buying an additional 47,855 shares during the period. Barings LLC raised its stake in shares of Citizens Financial Group by 45.1% during the 3rd quarter. Barings LLC now owns 86,900 shares of the bank’s stock worth $3,291,000 after buying an additional 27,000 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Citizens Financial Group by 0.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,347,000 shares of the bank’s stock worth $51,011,000 after buying an additional 8,700 shares during the period. Lazard Asset Management LLC raised its stake in shares of Citizens Financial Group by 16,695.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock worth $99,167,000 after buying an additional 2,762,808 shares during the period. Finally, Boston Advisors LLC raised its stake in shares of Citizens Financial Group by 10.4% during the 3rd quarter. Boston Advisors LLC now owns 660,245 shares of the bank’s stock worth $25,003,000 after buying an additional 61,942 shares during the period. 98.84% of the stock is owned by institutional investors.
Citizens Financial Group Inc (NYSE CFG) opened at $40.87 on Friday. Citizens Financial Group Inc has a 52 week low of $31.51 and a 52 week high of $42.52. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $20,110.00, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.06 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. equities analysts predict that Citizens Financial Group Inc will post 2.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, October 31st. Citizens Financial Group’s dividend payout ratio is currently 29.15%.
CFG has been the subject of several research analyst reports. BidaskClub raised Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, September 12th. Sanford C. Bernstein raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $38.00 to $43.00 in a research note on Thursday, September 14th. Deutsche Bank reaffirmed a “hold” rating and set a $36.00 target price (up from $34.00) on shares of Citizens Financial Group in a research note on Tuesday, September 26th. Finally, Bank of America reissued an “underperform” rating and issued a $40.00 price objective (down from $41.00) on shares of Citizens Financial Group in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.85.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.31, for a total value of $161,240.00. Following the completion of the sale, the director now directly owns 12,917 shares in the company, valued at approximately $520,684.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.
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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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