Modera Wealth Management LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) in the third quarter, HoldingsChannel reports. The fund bought 7,641 shares of the bank’s stock, valued at approximately $205,000.
Other hedge funds also recently modified their holdings of the company. Alps Advisors Inc. increased its stake in shares of Citizens Financial Group by 32.5% during the 3rd quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock worth $327,000 after purchasing an additional 2,992 shares during the last quarter. Tudor Investment Corp Et Al increased its stake in shares of Citizens Financial Group by 123.0% during the 2nd quarter. Tudor Investment Corp Et Al now owns 491,005 shares of the bank’s stock worth $12,805,000 after purchasing an additional 270,777 shares during the last quarter. Point72 Middle East FZE increased its stake in shares of Citizens Financial Group by 115.3% during the 2nd quarter. Point72 Middle East FZE now owns 410,162 shares of the bank’s stock worth $10,697,000 after purchasing an additional 219,670 shares during the last quarter. Natixis acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth $711,000. Finally, SeaTown Holdings Pte. Ltd. increased its stake in shares of Citizens Financial Group by 3,222.9% during the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank’s stock worth $31,168,000 after purchasing an additional 1,128,000 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
Insider Transactions at Citizens Financial Group
In related news, insider Craig Jack Read sold 4,508 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total transaction of $151,198.32. Following the transaction, the insider now directly owns 43,885 shares in the company, valued at $1,471,902.90. The sale was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CFG shares. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Wedbush lowered their target price on shares of Citizens Financial Group from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, January 18th. Morgan Stanley increased their price target on shares of Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. TheStreet raised shares of Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and an average price target of $35.00.
View Our Latest Stock Report on CFG
Citizens Financial Group Stock Up 1.0 %
Shares of NYSE:CFG opened at $33.49 on Friday. Citizens Financial Group, Inc. has a one year low of $22.77 and a one year high of $34.79. The company has a 50 day moving average of $32.36 and a 200-day moving average of $29.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 10.77 and a beta of 1.36.
Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.26). Citizens Financial Group had a return on equity of 7.40% and a net margin of 13.19%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.3 earnings per share for the current year.
Citizens Financial Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Tuesday, January 30th. Citizens Financial Group’s payout ratio is currently 54.02%.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
See Also
Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG – Free Report).
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