M&R Capital Management Inc. lessened its position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,526 shares of the bank’s stock after selling 7,940 shares during the quarter. Citizens Financial Group comprises 1.5% of M&R Capital Management Inc.’s holdings, making the stock its 18th largest position. M&R Capital Management Inc.’s holdings in Citizens Financial Group were worth $5,592,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its position in Citizens Financial Group by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 86,831 shares of the bank’s stock worth $3,419,000 after buying an additional 232 shares in the last quarter. Coastal Investment Advisors Inc. raised its position in Citizens Financial Group by 21.0% in the fourth quarter. Coastal Investment Advisors Inc. now owns 1,452 shares of the bank’s stock valued at $57,000 after purchasing an additional 252 shares during the period. Kinneret Advisory LLC raised its position in Citizens Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock valued at $603,000 after purchasing an additional 298 shares during the period. Heritage Wealth Management LLC grew its stake in shares of Citizens Financial Group by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Citizens Financial Group by 7.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,904 shares of the bank’s stock valued at $193,000 after buying an additional 337 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada dropped their price objective on Citizens Financial Group from $37.00 to $33.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Citizens Financial Group in a research report on Friday, July 21st. JPMorgan Chase & Co. cut Citizens Financial Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, June 29th. The Goldman Sachs Group boosted their target price on Citizens Financial Group from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Citigroup upped their price objective on Citizens Financial Group from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.25.
Citizens Financial Group Stock Performance
NYSE CFG traded up $0.73 on Thursday, hitting $28.17. 868,524 shares of the company’s stock were exchanged, compared to its average volume of 6,852,135. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 6.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.91 and a quick ratio of 0.90. The firm’s 50-day moving average price is $29.07 and its two-hundred day moving average price is $29.27. Citizens Financial Group, Inc. has a fifty-two week low of $23.37 and a fifty-two week high of $44.82.
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.09 billion. Citizens Financial Group had a return on equity of 10.68% and a net margin of 20.41%. During the same quarter in the prior year, the company earned $1.14 EPS. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.82 EPS for the current year.
Citizens Financial Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend was Tuesday, August 1st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 38.18%.
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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