Citizens Financial Group, Inc. (CFG) Shares Sold by Advisor Group Inc.
Advisor Group Inc. cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 26.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,028 shares of the bank’s stock after selling 6,969 shares during the quarter. Advisor Group Inc.’s holdings in Citizens Financial Group were worth $678,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Smithfield Trust Co. raised its stake in Citizens Financial Group by 1.4% during the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after acquiring an additional 70 shares in the last quarter. Courier Capital LLC bought a new position in shares of Citizens Financial Group in the second quarter worth about $214,000. Eagle Global Advisors LLC bought a new position in shares of Citizens Financial Group in the second quarter worth about $215,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Citizens Financial Group in the first quarter worth about $242,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Citizens Financial Group by 2.8% in the second quarter. D.A. Davidson & CO. now owns 6,845 shares of the bank’s stock worth $244,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Shares of Citizens Financial Group, Inc. (NYSE CFG) opened at 36.84 on Wednesday. The company has a 50-day moving average price of $34.58 and a 200-day moving average price of $35.21. Citizens Financial Group, Inc. has a 12-month low of $24.22 and a 12-month high of $39.75. The firm has a market capitalization of $18.44 billion, a P/E ratio of 15.73 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Equities analysts predict that Citizens Financial Group, Inc. will post $2.54 EPS for the current year.
Citizens Financial Group declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $850.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
CFG has been the topic of a number of research analyst reports. Bank of America Corporation restated an “underperform” rating and issued a $40.00 price target (down from $41.00) on shares of Citizens Financial Group in a research note on Monday. Deutsche Bank AG reaffirmed a “hold” rating and set a $36.00 price target (up from $34.00) on shares of Citizens Financial Group in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Monday, September 25th. Sanford C. Bernstein upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. Finally, BidaskClub raised shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.35.
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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