Candriam Luxembourg S.C.A. raised its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 16.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 56,567 shares of the bank’s stock after purchasing an additional 8,051 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Citizens Financial Group were worth $2,375,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth $131,000. Lipe & Dalton acquired a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $207,000. Loeb Partners Corp acquired a new position in shares of Citizens Financial Group during the 4th quarter valued at about $210,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Citizens Financial Group during the 4th quarter valued at about $216,000. Finally, Advisor Partners LLC acquired a new position in shares of Citizens Financial Group during the 4th quarter valued at about $247,000. 97.50% of the stock is owned by institutional investors and hedge funds.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.31, for a total value of $161,240.00. Following the transaction, the director now owns 12,917 shares of the company’s stock, valued at $520,684.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, January 19th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Citizens Financial Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. equities research analysts forecast that Citizens Financial Group Inc will post 3.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.18. Citizens Financial Group’s dividend payout ratio is presently 26.91%.
Several brokerages have recently weighed in on CFG. Sanford C. Bernstein set a $52.00 price target on shares of Citizens Financial Group and gave the company a “buy” rating in a research report on Monday, January 22nd. Royal Bank of Canada reissued a “hold” rating and set a $45.00 price target on shares of Citizens Financial Group in a research report on Sunday, January 21st. Barclays boosted their price target on shares of Citizens Financial Group from $41.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. BMO Capital Markets raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $40.00 to $39.00 in a research report on Tuesday, December 19th. Finally, Morgan Stanley boosted their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.36.
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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