Sumitomo Mitsui Trust Holdings Inc. Sells 25,637 Shares of Citizens Financial Group Inc (CFG)

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Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Citizens Financial Group Inc (NYSE:CFG) by 1.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,932,948 shares of the bank’s stock after selling 25,637 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Citizens Financial Group were worth $62,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFG. Semmax Financial Advisors Inc. purchased a new stake in Citizens Financial Group in the 4th quarter valued at about $26,000. PRW Wealth Management LLC purchased a new stake in Citizens Financial Group in the 4th quarter valued at about $32,000. Liberty Wealth Management LLC purchased a new stake in Citizens Financial Group in the 1st quarter valued at about $34,000. Exane Asset Management purchased a new stake in Citizens Financial Group in the 4th quarter valued at about $42,000. Finally, CWM LLC increased its stake in Citizens Financial Group by 29.3% in the 4th quarter. CWM LLC now owns 1,536 shares of the bank’s stock valued at $46,000 after buying an additional 348 shares during the last quarter. 98.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of CFG stock opened at $34.44 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.57. Citizens Financial Group Inc has a 12-month low of $27.62 and a 12-month high of $42.87. The company has a market cap of $15.79 billion, a PE ratio of 9.67, a P/E/G ratio of 1.13 and a beta of 1.45.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. Citizens Financial Group had a net margin of 22.96% and a return on equity of 8.88%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $0.78 EPS. Equities analysts forecast that Citizens Financial Group Inc will post 3.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.72%. Citizens Financial Group’s payout ratio is currently 35.96%.

Several research firms have commented on CFG. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Wedbush set a $39.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, ValuEngine upgraded shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Citizens Financial Group currently has an average rating of “Buy” and a consensus target price of $41.36.

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Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading: What causes a recession?

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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