Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,049 shares of the bank’s stock after selling 8,979 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.23% of Citizens Financial Group worth $42,568,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in shares of Citizens Financial Group by 16,695.7% during the second quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock valued at $99,167,000 after purchasing an additional 2,762,808 shares in the last quarter. Boston Advisors LLC lifted its position in shares of Citizens Financial Group by 10.4% during the third quarter. Boston Advisors LLC now owns 660,245 shares of the bank’s stock valued at $25,003,000 after purchasing an additional 61,942 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Citizens Financial Group by 10.7% during the third quarter. Toronto Dominion Bank now owns 192,364 shares of the bank’s stock valued at $7,284,000 after purchasing an additional 18,523 shares in the last quarter. Intrust Bank NA bought a new position in shares of Citizens Financial Group during the second quarter valued at about $267,000. Finally, Todd Asset Management LLC lifted its position in shares of Citizens Financial Group by 33.4% during the second quarter. Todd Asset Management LLC now owns 1,819,023 shares of the bank’s stock valued at $64,903,000 after purchasing an additional 455,476 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on CFG shares. Oppenheimer restated a “hold” rating on shares of Citizens Financial Group in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Tuesday, September 12th. Barclays raised their price objective on shares of Citizens Financial Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Citigroup restated a “neutral” rating and set a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a report on Monday, October 9th. Finally, Sanford C. Bernstein upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $38.00 to $43.00 in a report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.00.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 20th. The bank reported $0.68 earnings per share for the quarter, topping the 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 company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. equities research analysts expect that Citizens Financial Group Inc will post 2.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.77%. Citizens Financial Group’s payout ratio is 29.15%.
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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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