Dynamic Technology Lab Private Ltd lessened its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 51.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,072 shares of the bank’s stock after selling 37,880 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Citizens Financial Group were worth $1,392,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CFG. Epoch Investment Partners Inc. grew its stake in shares of Citizens Financial Group by 34.5% in the third quarter. Epoch Investment Partners Inc. now owns 1,524,129 shares of the bank’s stock worth $58,786,000 after acquiring an additional 390,999 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of Citizens Financial Group by 16.7% in the third quarter. First Republic Investment Management Inc. now owns 64,578 shares of the bank’s stock worth $2,490,000 after acquiring an additional 9,219 shares during the last quarter. Bailard Inc. grew its stake in shares of Citizens Financial Group by 3.7% in the third quarter. Bailard Inc. now owns 125,816 shares of the bank’s stock worth $4,853,000 after acquiring an additional 4,464 shares during the last quarter. Nokota Management LP grew its stake in shares of Citizens Financial Group by 4.5% in the third quarter. Nokota Management LP now owns 1,214,695 shares of the bank’s stock worth $46,851,000 after acquiring an additional 52,159 shares during the last quarter. Finally, EJF Capital LLC grew its stake in shares of Citizens Financial Group by 6.6% in the third quarter. EJF Capital LLC now owns 3,057,530 shares of the bank’s stock worth $117,929,000 after acquiring an additional 189,166 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.
Several equities research analysts have recently issued reports on CFG shares. Credit Suisse Group lowered their price objective on shares of Citizens Financial Group from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday. Zacks Investment Research upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Morgan Stanley lowered their price objective on shares of Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 18th. ValuEngine downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Bank of America upgraded shares of Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.42.
In related news, Director Charles John Koch acquired 14,000 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was bought at an average cost of $36.32 per share, with a total value of $508,480.00. Following the completion of the acquisition, the director now owns 49,937 shares in the company, valued at $1,813,711.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Shivan S. Subramaniam acquired 3,000 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were bought at an average cost of $35.32 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director now owns 38,963 shares of the company’s stock, valued at approximately $1,376,173.16. The disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.
CFG opened at $33.01 on Friday. Citizens Financial Group Inc has a fifty-two week low of $32.79 and a fifty-two week high of $48.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 1.00. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 19th. The bank reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Citizens Financial Group Inc will post 3.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.08 dividend on an annualized basis and a yield of 3.27%. Citizens Financial Group’s dividend payout ratio is currently 41.86%.
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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 provide 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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