Hussman Strategic Advisors Inc. purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 50,000 shares of the bank’s stock, valued at approximately $1,894,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Citizens Financial Group by 4.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after acquiring an additional 47,855 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Citizens Financial Group by 16,695.7% in the 2nd quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock valued at $99,167,000 after buying an additional 2,762,808 shares during the period. Intrust Bank NA acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $267,000. Todd Asset Management LLC lifted its holdings in shares of Citizens Financial Group by 33.4% in the 2nd quarter. Todd Asset Management LLC now owns 1,819,023 shares of the bank’s stock valued at $64,903,000 after buying an additional 455,476 shares during the period. Finally, PICTET BANK & TRUST Ltd acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $1,629,000. 96.52% of the stock is owned by institutional investors.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. Citizens Financial Group’s payout ratio is 29.15%.
Several equities analysts have recently issued reports on CFG shares. Barclays PLC boosted their price objective on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. BidaskClub raised Citizens Financial Group from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Citigroup Inc. reissued a “neutral” rating and issued a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a report on Monday, October 9th. Finally, TheStreet raised Citizens Financial Group from a “c” rating to a “b-” rating in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $38.60.
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Citizens Financial Group Profile
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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