V Wealth Management LLC increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,200 shares of the bank’s stock after buying an additional 1,480 shares during the period. V Wealth Management LLC’s holdings in Citizens Financial Group were worth $1,545,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Citizens Financial Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 16,827,697 shares of the bank’s stock worth $581,396,000 after buying an additional 391,502 shares during the last quarter. BB&T Corp boosted its stake in Citizens Financial Group by 149.6% in the first quarter. BB&T Corp now owns 132,713 shares of the bank’s stock worth $4,585,000 after buying an additional 79,534 shares during the period. Fox Run Management L.L.C. acquired a new stake in Citizens Financial Group during the first quarter worth approximately $670,000. Wealthfront Inc. acquired a new stake in Citizens Financial Group during the fourth quarter worth approximately $361,000. Finally, Teachers Advisors LLC boosted its stake in Citizens Financial Group by 22.8% in the fourth quarter. Teachers Advisors LLC now owns 3,522,517 shares of the bank’s stock worth $125,507,000 after buying an additional 653,662 shares during the period. 96.09% of the stock is owned by institutional investors.
Citizens Financial Group, Inc. (NYSE:CFG) traded down 0.95% during trading on Friday, reaching $33.39. The company had a trading volume of 4,223,715 shares. The firm’s 50 day moving average is $35.54 and its 200-day moving average is $35.93. Citizens Financial Group, Inc. has a 12 month low of $23.20 and a 12 month high of $39.75. The company has a market capitalization of $16.72 billion, a P/E ratio of 14.26 and a beta of 1.31.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current year.
Citizens Financial Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $850.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, July 31st. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.14. Citizens Financial Group’s dividend payout ratio is 30.64%.
A number of research firms have recently commented on CFG. BidaskClub upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Wedbush upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $39.00 to $41.00 in a research report on Monday, May 1st. 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 research report on Tuesday, July 4th. Deutsche Bank AG reiterated a “hold” rating on shares of Citizens Financial Group in a research report on Wednesday, July 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $39.00 price target (up from $38.00) on shares of Citizens Financial Group in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Citizens Financial Group presently has an average rating of “Hold” and an average price target of $35.19.
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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