Stifel Financial Corp Acquires 8,625 Shares of Citizens Financial Group, Inc. (CFG)
Stifel Financial Corp lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,771 shares of the bank’s stock after buying an additional 8,625 shares during the quarter. Stifel Financial Corp’s holdings in Citizens Financial Group were worth $7,337,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted 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 valued at $40,426,000 after buying an additional 47,855 shares in the last quarter. Intrust Bank NA purchased a new stake in shares of Citizens Financial Group during the 2nd quarter valued at approximately $267,000. Lazard Asset Management LLC lifted 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 valued at $99,167,000 after buying an additional 2,762,808 shares in the last quarter. Todd Asset Management LLC increased its holdings in Citizens Financial Group by 33.4% during the 2nd quarter. Todd Asset Management LLC now owns 1,819,023 shares of the bank’s stock worth $64,903,000 after acquiring an additional 455,476 shares during the period. Finally, PICTET BANK & TRUST Ltd bought a new stake in Citizens Financial Group during the 2nd quarter worth approximately $1,629,000. Institutional investors own 96.76% of the company’s stock.
CFG has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, July 4th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. BidaskClub lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Sanford C. Bernstein raised shares of 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 report on Thursday, September 14th. Finally, TheStreet lowered shares of Citizens Financial Group from a “b-” rating to a “c” rating in a report on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $36.35.
Citizens Financial Group, Inc. (NYSE CFG) opened at 37.13 on Friday. The stock has a 50 day moving average of $34.75 and a 200-day moving average of $35.23. Citizens Financial Group, Inc. has a one year low of $24.22 and a one year high of $39.75. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 15.85 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. On average, equities analysts predict that Citizens Financial Group, Inc. will post $2.54 EPS for the current fiscal year.
Citizens Financial Group announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $850.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Citizens Financial Group Company 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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