Oppenheimer & Co. Inc. reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) by 72.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,984 shares of the bank’s stock after selling 24,092 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Citizens Financial Group were worth $321,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CFG. Capital World Investors grew its holdings in shares of Citizens Financial Group by 76.0% during the first quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock valued at $861,383,000 after buying an additional 8,203,831 shares during the last quarter. First Trust Advisors LP boosted its holdings in Citizens Financial Group by 410.9% during the first quarter. First Trust Advisors LP now owns 5,770,863 shares of the bank’s stock worth $261,593,000 after purchasing an additional 4,641,334 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Citizens Financial Group during the second quarter worth about $37,423,000. Qube Research & Technologies Ltd boosted its holdings in Citizens Financial Group by 525.1% during the first quarter. Qube Research & Technologies Ltd now owns 1,168,323 shares of the bank’s stock worth $52,960,000 after purchasing an additional 981,436 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Citizens Financial Group by 138.0% during the first quarter. KBC Group NV now owns 1,105,035 shares of the bank’s stock worth $50,092,000 after purchasing an additional 640,711 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on CFG. Credit Suisse Group boosted their price target on shares of Citizens Financial Group from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, October 20th. Morgan Stanley cut their price target on shares of Citizens Financial Group from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, October 5th. Wedbush restated an “outperform” rating and set a $44.00 price target on shares of Citizens Financial Group in a report on Wednesday, September 28th. Piper Sandler cut their price target on shares of Citizens Financial Group to $44.00 in a report on Friday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Citizens Financial Group from $39.50 to $43.00 in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $46.71.
Citizens Financial Group Stock Performance
Citizens Financial Group (NYSE:CFG – Get Rating) last posted its quarterly earnings results on Wednesday, October 19th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.09. Citizens Financial Group had a net margin of 24.05% and a return on equity of 10.88%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Sell-side analysts predict that Citizens Financial Group, Inc. will post 4.13 earnings per share for the current year.
Citizens Financial Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 16th. Stockholders of record on Wednesday, November 2nd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Tuesday, November 1st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 42.00%.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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