Investors Buy Citizens Financial Group (CFG) on Weakness

Investors bought shares of Citizens Financial Group Inc (NYSE:CFG) on weakness during trading on Thursday. $70.80 million flowed into the stock on the tick-up and $20.31 million flowed out of the stock on the tick-down, for a money net flow of $50.49 million into the stock. Of all stocks tracked, Citizens Financial Group had the 15th highest net in-flow for the day. Citizens Financial Group traded down ($0.19) for the day and closed at $32.24

Several equities analysts have recently weighed in on the company. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Goldman Sachs Group raised Citizens Financial Group to a “buy” rating and reduced their price objective for the company from $44.00 to $40.00 in a research note on Monday. Barclays reduced their price objective on Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. BMO Capital Markets reduced their price objective on Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. Finally, Credit Suisse Group reduced their price objective on Citizens Financial Group from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, December 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of “Buy” and a consensus price target of $41.46.

The stock has a market capitalization of $14.80 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.53 and a beta of 1.37. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, October 19th. The bank reported $0.93 EPS for the quarter, topping the consensus estimate of $0.90 by $0.03. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. Citizens Financial Group’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, research analysts anticipate that Citizens Financial Group Inc will post 3.52 EPS for the current year.

In other Citizens Financial Group news, Director Charles John Koch acquired 14,000 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were bought at an average cost of $36.32 per share, for a total transaction of $508,480.00. Following the acquisition, the director now directly owns 49,937 shares of the company’s stock, valued at $1,813,711.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shivan S. Subramaniam acquired 3,000 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were acquired at an average price of $35.32 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director now directly owns 38,963 shares in the company, valued at $1,376,173.16. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CFG. JPMorgan Chase & Co. increased its holdings in Citizens Financial Group by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock worth $655,180,000 after purchasing an additional 2,189,838 shares during the last quarter. Bank of Montreal Can increased its holdings in Citizens Financial Group by 51.9% during the 3rd quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock worth $204,888,000 after purchasing an additional 1,815,395 shares during the last quarter. BlackRock Inc. increased its holdings in Citizens Financial Group by 2.9% during the 3rd quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock worth $1,636,839,000 after purchasing an additional 1,208,420 shares during the last quarter. LSV Asset Management increased its holdings in Citizens Financial Group by 12.0% during the 3rd quarter. LSV Asset Management now owns 8,411,960 shares of the bank’s stock worth $324,449,000 after purchasing an additional 898,835 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Citizens Financial Group by 332.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,127,049 shares of the bank’s stock worth $43,842,000 after purchasing an additional 866,396 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

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Citizens Financial Group Company Profile (NYSE:CFG)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide 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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