State of Wisconsin Investment Board lessened its stake in Citizens Financial Group Inc (NYSE:CFG) by 24.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 606,086 shares of the bank’s stock after selling 198,987 shares during the quarter. State of Wisconsin Investment Board’s holdings in Citizens Financial Group were worth $25,443,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in Citizens Financial Group in the 4th quarter worth approximately $131,000. Loeb Partners Corp acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $210,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $216,000. Advisor Partners LLC acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $247,000. Finally, Lipe & Dalton acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 97.50% of the company’s stock.
Citizens Financial Group Inc (NYSE CFG) opened at $45.93 on Tuesday. Citizens Financial Group Inc has a 52 week low of $31.51 and a 52 week high of $48.23. The firm has a market capitalization of $22,597.16, a PE ratio of 14.05, a P/E/G ratio of 0.76 and a beta of 1.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.59.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 19th. The bank reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. Citizens Financial Group had a return on equity of 6.73% and a net margin of 25.60%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. equities analysts forecast that Citizens Financial Group Inc will post 3.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.88 annualized dividend and a yield of 1.92%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.18. Citizens Financial Group’s dividend payout ratio (DPR) is currently 26.91%.
In related news, Director Wendy A. Watson sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the completion of the transaction, the director now owns 12,917 shares of the company’s stock, valued at $520,684.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.
A number of equities analysts have issued reports on the company. BMO Capital Markets raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and cut their target price for the company from $40.00 to $39.00 in a research report on Tuesday, December 19th. Barclays upped their price target on Citizens Financial Group from $41.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, December 4th. Oppenheimer reissued a “hold” rating on shares of Citizens Financial Group in a research report on Monday, October 23rd. Finally, Sanford C. Bernstein set a $52.00 target price on Citizens Financial Group and gave the stock a “buy” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Citizens Financial Group has a consensus rating of “Hold” and an average target price of $42.36.
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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