Globeflex Capital L P acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 57,040 shares of the bank’s stock, valued at approximately $1,971,000.
Several other large investors have also added to or reduced their stakes in CFG. Bancorpsouth Inc. raised its stake in Citizens Financial Group by 0.9% in the first quarter. Bancorpsouth Inc. now owns 14,542 shares of the bank’s stock valued at $502,000 after buying an additional 131 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Citizens Financial Group by 1.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,829 shares of the bank’s stock valued at $340,000 after buying an additional 149 shares during the last quarter. BLB&B Advisors LLC raised its stake in Citizens Financial Group by 2.5% in the first quarter. BLB&B Advisors LLC now owns 12,517 shares of the bank’s stock valued at $432,000 after buying an additional 300 shares during the last quarter. Pacer Advisors Inc. raised its stake in Citizens Financial Group by 3.2% in the first quarter. Pacer Advisors Inc. now owns 9,863 shares of the bank’s stock valued at $341,000 after buying an additional 308 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in Citizens Financial Group by 0.5% in the first quarter. Mason Street Advisors LLC now owns 70,355 shares of the bank’s stock valued at $2,431,000 after buying an additional 333 shares during the last quarter. 95.92% of the stock is owned by institutional investors.
Citizens Financial Group, Inc. (NYSE:CFG) traded down 1.39% during mid-day trading on Tuesday, hitting $35.59. 3,338,405 shares of the company were exchanged. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 16.40 and a beta of 1.33. The stock’s 50 day moving average is $35.34 and its 200-day moving average is $35.93. Citizens Financial Group, Inc. has a 12-month low of $20.74 and a 12-month high of $39.75.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, April 20th. The bank reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Citizens Financial Group had a net margin of 19.18% and a return on equity of 5.69%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts predict that Citizens Financial Group, Inc. will post $2.46 EPS for the current year.
Citizens Financial Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $850.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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Several equities research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Citizens Financial Group in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $39.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a research report on Saturday, March 25th. Morgan Stanley reissued an “overweight” rating and issued a $41.00 price objective (up previously from $40.00) on shares of Citizens Financial Group in a research report on Tuesday, June 6th. Citigroup Inc restated a “hold” rating on shares of Citizens Financial Group in a research note on Friday, April 21st. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $38.00 target price (down from $40.00) on shares of Citizens Financial Group in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Citizens Financial Group currently has an average rating of “Hold” and an average price target of $35.25.
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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