Oakworth Capital Inc. grew its stake in Citizens Financial Group Inc (NYSE:CFG) by 739.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,183 shares of the bank’s stock after buying an additional 1,042 shares during the period. Oakworth Capital Inc.’s holdings in Citizens Financial Group were worth $41,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. ZWJ Investment Counsel Inc. raised its holdings in Citizens Financial Group by 107.3% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 379,327 shares of the bank’s stock valued at $12,328,000 after acquiring an additional 196,319 shares in the last quarter. Thor Advisors LLC acquired a new position in Citizens Financial Group in the 1st quarter valued at approximately $72,000. Ontario Teachers Pension Plan Board raised its holdings in Citizens Financial Group by 169.3% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,325 shares of the bank’s stock valued at $693,000 after acquiring an additional 13,405 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Citizens Financial Group by 2.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock valued at $18,448,000 after acquiring an additional 15,663 shares in the last quarter. Finally, Wellington Shields Capital Management LLC raised its holdings in Citizens Financial Group by 68.9% in the 1st quarter. Wellington Shields Capital Management LLC now owns 16,000 shares of the bank’s stock valued at $520,000 after acquiring an additional 6,525 shares in the last quarter. 96.48% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on CFG shares. JPMorgan Chase & Co. lowered their price objective on Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Citigroup lowered Citizens Financial Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $35.00 in a research note on Friday, July 12th. Wedbush set a $39.00 price objective on Citizens Financial Group and gave the company a “buy” rating in a research note on Monday, April 22nd. Zacks Investment Research lowered Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 price objective on the stock. in a research note on Friday, July 12th. Finally, Argus upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.42.
Shares of CFG stock traded down $0.50 during trading hours on Tuesday, hitting $32.45. The company had a trading volume of 87,568 shares, compared to its average volume of 5,055,246. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.56 and a beta of 1.45. Citizens Financial Group Inc has a 12 month low of $27.62 and a 12 month high of $41.76. The firm’s fifty day moving average is $35.20 and its 200 day moving average is $35.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.96.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Citizens Financial Group had a return on equity of 8.94% and a net margin of 22.61%. During the same period in the prior year, the company earned $0.88 EPS. On average, sell-side analysts expect that Citizens Financial Group Inc will post 3.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, July 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a yield of 4.44%. Citizens Financial Group’s dividend payout ratio is 40.45%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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