USA Financial Portformulas Corp Takes Position in Citizens Financial Group, Inc. (CFG)
USA Financial Portformulas Corp acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 29,214 shares of the bank’s stock, valued at approximately $1,042,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CFG. Sun Life Financial INC lifted its stake in shares of Citizens Financial Group by 41,266.7% during the 2nd 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 last quarter. Smithfield Trust Co. lifted its stake in shares of Citizens Financial Group by 1.4% during the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after purchasing an additional 70 shares during the last quarter. Colony Group LLC purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth $210,000. Courier Capital LLC purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth $214,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth $215,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Citigroup Inc. restated a “neutral” rating and set a $42.00 price objective (up from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. Bank of America Corporation restated an “underperform” rating and set a $40.00 price objective (down from $41.00) on shares of Citizens Financial Group in a research note on Monday, October 2nd. Deutsche Bank AG restated a “hold” rating and set a $36.00 price objective (up from $34.00) on shares of Citizens Financial Group in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Monday, September 25th. Finally, Sanford C. Bernstein upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $38.00 to $43.00 in a research note on Thursday, September 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $37.12.
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Citizens Financial Group, Inc. (NYSE:CFG) traded down 0.46% during midday trading on Tuesday, reaching $36.88. The company’s stock had a trading volume of 921,863 shares. The firm has a market capitalization of $18.46 billion, a PE ratio of 15.75 and a beta of 1.36. Citizens Financial Group, Inc. has a 1-year low of $24.43 and a 1-year high of $39.75. The stock’s 50-day moving average price is $35.50 and its 200 day moving average price is $35.35.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. Equities analysts anticipate that Citizens Financial Group, Inc. will post $2.54 EPS for the current fiscal year.
Citizens Financial Group announced that its board has authorized a stock buyback plan 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 plans are often a sign that the company’s board believes its shares are 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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