First Mercantile Trust Co. decreased its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 24.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,940 shares of the bank’s stock after selling 930 shares during the period. First Mercantile Trust Co.’s holdings in Citizens Financial Group were worth $96,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at $128,440,000. Oregon Public Employees Retirement Fund boosted its stake in Citizens Financial Group by 2,924.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,910,982 shares of the bank’s stock worth $132,000 after buying an additional 3,781,655 shares during the period. Deutsche Bank AG boosted its stake in Citizens Financial Group by 135.8% during the fourth quarter. Deutsche Bank AG now owns 3,930,588 shares of the bank’s stock worth $116,852,000 after buying an additional 2,263,928 shares during the period. Millennium Management LLC boosted its stake in Citizens Financial Group by 211.1% during the fourth quarter. Millennium Management LLC now owns 3,294,737 shares of the bank’s stock worth $97,953,000 after buying an additional 2,235,677 shares during the period. Finally, Miller Howard Investments Inc. NY purchased a new position in Citizens Financial Group during the first quarter worth $58,564,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.
Several research analysts have commented on the stock. Wedbush set a $39.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a research note on Monday, April 22nd. ValuEngine upgraded Citizens Financial Group from a “strong sell” rating to a “sell” rating in a report on Friday, April 19th. Finally, Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $40.90.
Citizens Financial Group stock traded up $0.09 during trading hours on Friday, reaching $34.97. The stock had a trading volume of 2,330,897 shares, compared to its average volume of 4,479,798. Citizens Financial Group Inc has a 52 week low of $27.62 and a 52 week high of $42.23. The company has a market capitalization of $15.93 billion, a PE ratio of 9.82, a P/E/G ratio of 1.11 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.96.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts predict that Citizens Financial Group Inc will post 3.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.32 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.28 dividend on an annualized basis and a yield of 3.66%. Citizens Financial Group’s dividend payout ratio is currently 35.96%.
Citizens Financial Group 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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