KCM Investment Advisors LLC lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 18.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,009 shares of the bank’s stock after selling 2,771 shares during the quarter. KCM Investment Advisors LLC’s holdings in Citizens Financial Group were worth $428,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CFG. Smithfield Trust Co. increased 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 during the last quarter. Greenwood Capital Associates LLC acquired a new stake in Citizens Financial Group during the first quarter worth $211,000. Holderness Investments Co. acquired a new stake in Citizens Financial Group during the first quarter worth $214,000. Courier Capital LLC acquired a new stake in Citizens Financial Group during the second quarter worth $214,000. Finally, Eagle Global Advisors LLC acquired a new stake in Citizens Financial Group during the second quarter worth $215,000. 96.86% of the stock is owned by hedge funds and other institutional investors.
Citizens Financial Group, Inc. (CFG) opened at 35.16 on Friday. Citizens Financial Group, Inc. has a 12-month low of $23.81 and a 12-month high of $39.75. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 15.01 and a beta of 1.32. The company has a 50-day moving average price of $33.99 and a 200-day moving average price of $35.34.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities research analysts forecast that Citizens Financial Group, Inc. will post $2.53 earnings per share for the current year.
Citizens Financial Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $850.00 million in shares. This buyback authorization allows the bank to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have issued reports on CFG shares. BMO Capital Markets started coverage on Citizens Financial Group in a research note on Thursday, May 25th. They set a “market perform” rating and a $39.00 target price for the company. Morgan Stanley reissued an “overweight” rating and set a $41.00 target price (up previously from $40.00) on shares of Citizens Financial Group in a research note on Tuesday, June 6th. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Citigroup Inc. reissued a “hold” rating on shares of Citizens Financial Group in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Citizens Financial Group in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of “Hold” and a consensus price target of $35.75.
Citizens Financial Group Company Profile
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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