Artisan Partners Limited Partnership lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,310,713 shares of the bank’s stock after purchasing an additional 119,788 shares during the period. Artisan Partners Limited Partnership owned 1.84% of Citizens Financial Group worth $332,206,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CFG. Smithfield Trust Co. increased its stake in Citizens Financial Group by 1.4% during the 2nd 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 period. Courier Capital LLC bought a new position in Citizens Financial Group during the 2nd quarter worth $214,000. Eagle Global Advisors LLC bought a new position in Citizens Financial Group during the 2nd quarter worth $215,000. Greenwood Capital Associates LLC bought a new position in Citizens Financial Group during the 1st quarter worth $211,000. Finally, Holderness Investments Co. bought a new position in Citizens Financial Group during the 1st quarter worth $214,000. Institutional investors own 96.86% of the company’s stock.
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A number of research firms have commented on CFG. Morgan Stanley restated an “overweight” rating and set a $41.00 price objective (up previously from $40.00) on shares of Citizens Financial Group in a research note on Tuesday, June 6th. BMO Capital Markets restated a “market perform” rating and set a $39.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a research note on Wednesday, July 5th. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Citigroup Inc. restated 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 given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.75.
Shares of Citizens Financial Group, Inc. (NYSE CFG) traded up 1.09% during trading on Friday, hitting $35.16. The stock had a trading volume of 6,791,062 shares. The company has a market cap of $17.60 billion, a PE ratio of 15.01 and a beta of 1.32. Citizens Financial Group, Inc. has a 1-year low of $23.81 and a 1-year high of $39.75. The firm’s 50 day moving average is $33.99 and its 200 day moving average is $35.34.
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. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Equities research analysts anticipate that Citizens Financial Group, Inc. will post $2.53 EPS for the current fiscal year.
Citizens Financial Group declared that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is 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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