BlueCrest Capital Management Ltd reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,504 shares of the bank’s stock after selling 16,808 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Citizens Financial Group were worth $5,299,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Sun Life Financial INC raised its holdings in Citizens Financial Group by 41,266.7% in the 2nd quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock worth $133,000 after purchasing an additional 3,714 shares during the period. Smithfield Trust Co. raised its holdings in Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after purchasing an additional 70 shares during the period. Courier Capital LLC bought a new position in Citizens Financial Group in the 2nd quarter worth $214,000. Eagle Global Advisors LLC bought a new position in Citizens Financial Group in the 2nd quarter worth $215,000. Finally, Veritable L.P. raised its holdings in Citizens Financial Group by 1.2% in the 2nd quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after purchasing an additional 79 shares during the period. 96.74% of the stock is currently owned by institutional investors.
CFG has been the topic of a number of recent analyst reports. BidaskClub cut Citizens Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods set a $40.00 price target on Citizens Financial Group and gave the company a “buy” rating in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Citigroup Inc. reissued a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Finally, Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Citizens Financial Group presently has a consensus rating of “Hold” and a consensus target price of $37.12.
Shares of Citizens Financial Group, Inc. (CFG) traded down 0.19% during midday trading on Tuesday, hitting $36.98. The stock had a trading volume of 568,988 shares. The stock has a market cap of $18.51 billion, a PE ratio of 15.79 and a beta of 1.36. Citizens Financial Group, Inc. has a 52-week low of $24.43 and a 52-week high of $39.75. The firm has a 50 day moving average price of $35.50 and a 200-day moving average price of $35.35.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts predict that Citizens Financial Group, Inc. will post $2.54 EPS for the current fiscal year.
Citizens Financial Group declared that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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