Nissay Asset Management Corp Japan ADV lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,211 shares of the bank’s stock after selling 1,039 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Citizens Financial Group were worth $1,908,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of CFG. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Citizens Financial Group in the 1st quarter worth approximately $3,679,000. Cibc World Markets Corp lifted its position in Citizens Financial Group by 2.0% in the 1st quarter. Cibc World Markets Corp now owns 175,021 shares of the bank’s stock worth $7,727,000 after buying an additional 3,388 shares during the last quarter. Moors & Cabot Inc. lifted its position in Citizens Financial Group by 123.2% in the 4th quarter. Moors & Cabot Inc. now owns 51,565 shares of the bank’s stock worth $1,846,000 after buying an additional 28,466 shares during the last quarter. Forsta AP Fonden lifted its position in Citizens Financial Group by 2.8% in the first quarter. Forsta AP Fonden now owns 99,900 shares of the bank’s stock valued at $4,411,000 after purchasing an additional 2,700 shares during the last quarter. Finally, DnB Asset Management AS lifted its position in Citizens Financial Group by 150.4% in the first quarter. DnB Asset Management AS now owns 157,404 shares of the bank’s stock valued at $6,949,000 after purchasing an additional 94,552 shares during the last quarter. Hedge funds and other institutional investors own 92.43% of the company’s stock.
Several brokerages have weighed in on CFG. Morgan Stanley boosted their price objective on Citizens Financial Group from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, May 26th. Jefferies Financial Group boosted their target price on Citizens Financial Group from $42.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, April 9th. Compass Point boosted their target price on Citizens Financial Group from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, May 18th. Stephens boosted their target price on Citizens Financial Group from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 30th. Finally, Barclays boosted their target price on Citizens Financial Group from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $48.60.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 15th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.40. Citizens Financial Group had a return on equity of 8.16% and a net margin of 21.53%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 4.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Thursday, April 29th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, April 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.30%. Citizens Financial Group’s dividend payout ratio is currently 64.73%.
About Citizens Financial Group
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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