Harbour Capital Advisors LLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 3,372.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 520,393 shares of the bank’s stock after buying an additional 505,408 shares during the period. Harbour Capital Advisors LLC owned about 0.10% of Citizens Financial Group worth $14,585,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. FTB Advisors Inc. boosted its stake in Citizens Financial Group by 39.5% in the first quarter. FTB Advisors Inc. now owns 3,381 shares of the bank’s stock valued at $124,000 after buying an additional 957 shares during the last quarter. Coconut Grove Bank boosted its stake in Citizens Financial Group by 59.1% in the first quarter. Coconut Grove Bank now owns 4,845 shares of the bank’s stock valued at $167,000 after buying an additional 1,800 shares during the last quarter. Advisor Partners LLC acquired a new stake in Citizens Financial Group during the first quarter valued at $203,000. IFP Advisors Inc boosted its stake in Citizens Financial Group by 9.3% in the first quarter. IFP Advisors Inc now owns 5,899 shares of the bank’s stock valued at $204,000 after buying an additional 504 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in Citizens Financial Group by 22.7% in the first quarter. CENTRAL TRUST Co now owns 6,117 shares of the bank’s stock valued at $211,000 after buying an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.
Citizens Financial Group, Inc. (NYSE CFG) traded up 0.76% on Friday, hitting $33.06. The stock had a trading volume of 3,972,342 shares. Citizens Financial Group, Inc. has a 12-month low of $23.37 and a 12-month high of $39.75. The company’s 50 day moving average price is $35.34 and its 200-day moving average price is $35.81. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 14.12 and a beta of 1.31.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating the 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 firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts anticipate that Citizens Financial Group, Inc. will post $2.53 EPS for the current year.
Citizens Financial Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $850.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, July 31st. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a dividend yield of 2.18%. Citizens Financial Group’s dividend payout ratio (DPR) is 30.64%.
Several research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $41.00 price target (up previously from $40.00) on shares of Citizens Financial Group in a research report on Tuesday, June 6th. Wedbush raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $39.00 to $41.00 in a research report on Monday, May 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $39.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Citizens Financial Group in a research report on Saturday, April 22nd. Finally, Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.19.
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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