Basswood Capital Management L.L.C. grew its stake in Citizens Financial Group Inc (NYSE:CFG) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,956,368 shares of the bank’s stock after purchasing an additional 372,308 shares during the quarter. Citizens Financial Group makes up 3.4% of Basswood Capital Management L.L.C.’s holdings, making the stock its 6th biggest position. Basswood Capital Management L.L.C. owned about 0.42% of Citizens Financial Group worth $58,163,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. RKL Wealth Management LLC lifted its stake 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 worth $980,000 after buying 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 fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,820 shares of the bank’s stock worth $2,552,000 after buying an additional 339 shares in the last quarter. CWM LLC lifted its stake in shares of Citizens Financial Group by 29.3% in the fourth quarter. CWM LLC now owns 1,536 shares of the bank’s stock worth $46,000 after buying an additional 348 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Citizens Financial Group by 1.4% in the fourth quarter. Nomura Holdings Inc. now owns 31,165 shares of the bank’s stock worth $925,000 after buying an additional 433 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Citizens Financial Group by 1.1% in the fourth quarter. M&T Bank Corp now owns 52,375 shares of the bank’s stock worth $1,558,000 after buying an additional 546 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Shares of CFG stock opened at $35.87 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72. Citizens Financial Group Inc has a 12 month low of $27.62 and a 12 month high of $45.65. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.54 and a beta of 1.44.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 18th. The bank reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Citizens Financial Group had a net margin of 23.20% and a return on equity of 8.67%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. Citizens Financial Group’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Citizens Financial Group Inc will post 3.88 EPS for the current fiscal year.
Several equities analysts have recently weighed in on CFG shares. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, November 19th. Macquarie raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 27th. Credit Suisse Group decreased their price target 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, December 7th. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $48.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 11th. Finally, Royal Bank of Canada raised shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of “Buy” and an average target price of $40.91.
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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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