QS Investors LLC Has $3.62 Million Stake in Citizens Financial Group, Inc. (CFG)
QS Investors LLC decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 22.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,531 shares of the bank’s stock after selling 28,830 shares during the quarter. QS Investors LLC’s holdings in Citizens Financial Group were worth $3,623,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Smithfield Trust Co. grew its position in shares of Citizens Financial Group by 1.4% during the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after acquiring an additional 70 shares during the last quarter. Courier Capital LLC acquired a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $214,000. Eagle Global Advisors LLC acquired a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $215,000. Veritable L.P. increased its holdings in shares of Citizens Financial Group by 1.2% in the 2nd quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after acquiring an additional 79 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Citizens Financial Group by 2.8% in the 2nd quarter. D.A. Davidson & CO. now owns 6,845 shares of the bank’s stock worth $244,000 after acquiring an additional 188 shares during the period. 96.76% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the stock. BidaskClub raised shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. TheStreet lowered shares of Citizens Financial Group from a “b-” rating to a “c” rating in a research note on Monday, June 26th. BMO Capital Markets restated a “market perform” rating and issued a $39.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $40.00 price target (down previously from $41.00) on shares of Citizens Financial Group in a report on Monday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $36.35.
Shares of Citizens Financial Group, Inc. (CFG) opened at 36.84 on Wednesday. The company has a market cap of $18.44 billion, a P/E ratio of 15.73 and a beta of 1.37. The stock has a 50 day moving average price of $34.58 and a 200-day moving average price of $35.21. Citizens Financial Group, Inc. has a 1-year low of $24.22 and a 1-year high of $39.75.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data 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 19.86% and a return on equity of 6.08%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Analysts predict that Citizens Financial Group, Inc. will post $2.54 earnings per share for the current fiscal year.
Citizens Financial Group declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.
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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