Bank of America Corp DE lessened its stake in Citizens Financial Group Inc (NYSE:CFG) by 22.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,901,783 shares of the bank’s stock after selling 848,743 shares during the period. Bank of America Corp DE’s holdings in Citizens Financial Group were worth $86,270,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hotaling Investment Management LLC bought a new position in Citizens Financial Group in the 4th quarter valued at about $1,997,000. Morgan Stanley boosted its position in shares of Citizens Financial Group by 28.6% during the 3rd quarter. Morgan Stanley now owns 2,927,578 shares of the bank’s stock valued at $112,917,000 after purchasing an additional 650,344 shares in the last quarter. HRT Financial LLC bought a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $1,343,000. AXA boosted its position in shares of Citizens Financial Group by 20.5% during the 3rd quarter. AXA now owns 167,777 shares of the bank’s stock valued at $6,471,000 after purchasing an additional 28,600 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Citizens Financial Group by 9.7% during the 3rd quarter. Schroder Investment Management Group now owns 2,264,532 shares of the bank’s stock valued at $87,343,000 after purchasing an additional 200,894 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.
CFG stock opened at $31.77 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. Citizens Financial Group Inc has a one year low of $27.62 and a one year high of $43.62. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.51 and a beta of 1.44.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, January 18th. The bank reported $0.98 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Citizens Financial Group Inc will post 3.88 EPS for the current year.
Several equities analysts have recently weighed in on CFG shares. Citigroup upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, January 9th. Royal Bank of Canada upgraded shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 2nd. They noted that the move was a valuation call. Barclays reduced their price objective on shares of Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Goldman Sachs Group upgraded shares of Citizens Financial Group to a “buy” rating and reduced their price objective for the company from $44.00 to $40.00 in a research report on Monday, January 7th. Finally, Macquarie upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.91.
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About Citizens Financial Group
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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