Teacher Retirement System of Texas increased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 57.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 205,004 shares of the bank’s stock after purchasing an additional 74,686 shares during the quarter. Teacher Retirement System of Texas’ holdings in Citizens Financial Group were worth $9,051,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in Citizens Financial Group by 16.0% during the fourth quarter. Morgan Stanley now owns 9,355,790 shares of the bank’s stock valued at $334,564,000 after purchasing an additional 1,292,344 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Citizens Financial Group by 8.8% during the 4th quarter. Nuveen Asset Management LLC now owns 5,704,661 shares of the bank’s stock valued at $203,999,000 after buying an additional 460,267 shares in the last quarter. Northern Trust Corp grew its stake in shares of Citizens Financial Group by 0.7% during the 4th quarter. Northern Trust Corp now owns 5,258,655 shares of the bank’s stock valued at $188,050,000 after acquiring an additional 36,720 shares during the period. Norges Bank purchased a new stake in Citizens Financial Group in the 4th quarter worth approximately $166,208,000. Finally, The Manufacturers Life Insurance Company raised its stake in Citizens Financial Group by 6.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,641,758 shares of the bank’s stock worth $160,783,000 after acquiring an additional 223,325 shares during the period. Institutional investors own 92.43% of the company’s stock.
CFG has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Citizens Financial Group from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 26th. Argus increased their price target on Citizens Financial Group from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, April 19th. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $42.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, April 9th. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a research report on Friday, May 28th. Finally, JPMorgan Chase & Co. boosted their price target on Citizens Financial Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, May 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Citizens Financial Group has a consensus rating of “Buy” and an average price target of $48.60.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, April 15th. The bank reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.40. Citizens Financial Group had a net margin of 21.53% and a return on equity of 8.16%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts expect that Citizens Financial Group, Inc. will post 4.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Thursday, April 29th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, April 28th. Citizens Financial Group’s dividend payout ratio is currently 64.73%.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
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