Jacobs Levy Equity Management Inc. grew its stake in Citizens Financial Group Inc (NYSE:CFG) by 15.2% during the first quarter, HoldingsChannel reports. The firm owned 658,826 shares of the bank’s stock after purchasing an additional 86,760 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Citizens Financial Group were worth $21,412,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. RKL Wealth Management LLC grew its position in shares of Citizens Financial Group by 0.9% in the fourth quarter. RKL Wealth Management LLC now owns 33,064 shares of the bank’s stock valued at $980,000 after purchasing an additional 310 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Citizens Financial Group by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,820 shares of the bank’s stock valued at $2,552,000 after acquiring an additional 339 shares during the last quarter. Huntington National Bank raised its position in Citizens Financial Group by 19.1% during the 1st quarter. Huntington National Bank now owns 2,149 shares of the bank’s stock valued at $70,000 after purchasing an additional 345 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Citizens Financial Group by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 21,187 shares of the bank’s stock valued at $630,000 after purchasing an additional 373 shares during the last quarter. Finally, Nomura Holdings Inc. raised its position in Citizens Financial Group by 1.4% during the 4th quarter. Nomura Holdings Inc. now owns 31,165 shares of the bank’s stock valued at $925,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.
CFG has been the topic of several recent research reports. ValuEngine downgraded Citizens Financial Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Wedbush set a $39.00 price target on Citizens Financial Group and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $40.90.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. During the same period in the prior year, the firm posted $0.78 EPS. On average, research analysts predict that Citizens Financial Group Inc will post 3.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.28 annualized dividend and a yield of 3.71%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 35.96%.
Citizens Financial Group Company 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.
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