Suntrust Banks Inc. decreased its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 663,421 shares of the bank’s stock after selling 5,592 shares during the quarter. Suntrust Banks Inc.’s holdings in Citizens Financial Group were worth $27,849,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in Citizens Financial Group during the fourth quarter worth approximately $131,000. Valeo Financial Advisors LLC raised its holdings in Citizens Financial Group by 128.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 3,148 shares of the bank’s stock worth $132,000 after purchasing an additional 1,770 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Citizens Financial Group by 315.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,397 shares of the bank’s stock worth $142,000 after purchasing an additional 2,580 shares in the last quarter. Lipe & Dalton bought a new stake in Citizens Financial Group during the third quarter worth approximately $207,000. Finally, Loeb Partners Corp bought a new stake in Citizens Financial Group during the fourth quarter worth approximately $210,000. 97.50% of the stock is currently owned by hedge funds and other institutional investors.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of Citizens Financial Group stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $161,240.00. Following the transaction, the director now directly owns 12,917 shares in the company, valued at approximately $520,684.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. equities analysts forecast that Citizens Financial Group Inc will post 3.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.90%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, January 31st. Citizens Financial Group’s payout ratio is presently 26.91%.
CFG has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $45.00 target price on shares of Citizens Financial Group in a report on Sunday, January 21st. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, December 4th. Barclays boosted their target price on Citizens Financial Group from $41.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Sanford C. Bernstein set a $52.00 target price on Citizens Financial Group and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Morgan Stanley boosted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.36.
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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