Lincoln Capital Corp reduced its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 74,739 shares of the bank’s stock after selling 369 shares during the period. Citizens Financial Group makes up approximately 2.2% of Lincoln Capital Corp’s holdings, making the stock its 17th biggest holding. Lincoln Capital Corp’s holdings in Citizens Financial Group were worth $2,645,000 as of its most recent SEC filing.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Other hedge funds also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Citizens Financial Group by 2.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock worth $18,448,000 after purchasing an additional 15,663 shares during the last quarter. First American Trust FSB acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth $3,078,000. Crossmark Global Holdings Inc. increased its stake in shares of Citizens Financial Group by 6.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 59,877 shares of the bank’s stock worth $2,117,000 after purchasing an additional 3,816 shares during the last quarter. AMF Pensionsforsakring AB increased its stake in shares of Citizens Financial Group by 2.2% during the 2nd quarter. AMF Pensionsforsakring AB now owns 762,983 shares of the bank’s stock worth $26,979,000 after purchasing an additional 16,710 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its stake in shares of Citizens Financial Group by 11.4% during the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 79,490 shares of the bank’s stock worth $2,811,000 after purchasing an additional 8,105 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.
Shares of NYSE CFG traded up $0.43 during trading hours on Friday, hitting $38.00. 2,218,531 shares of the stock were exchanged, compared to its average volume of 4,037,037. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.96. Citizens Financial Group Inc has a one year low of $27.62 and a one year high of $38.63. The company’s 50 day moving average is $35.62 and its 200 day moving average is $35.07. The firm has a market capitalization of $16.33 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.62 and a beta of 1.48.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Citizens Financial Group had a net margin of 22.29% and a return on equity of 8.85%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm earned $0.93 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Citizens Financial Group Inc will post 3.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Tuesday, October 29th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 40.45%.
In related news, Director Charles John Koch purchased 15,000 shares of Citizens Financial Group stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $32.45 per share, with a total value of $486,750.00. Following the acquisition, the director now directly owns 68,781 shares in the company, valued at $2,231,943.45. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is owned by corporate insiders.
Several brokerages have recently commented on CFG. Zacks Investment Research upgraded shares of Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Wednesday, October 23rd. Argus upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Monday, July 29th. Morgan Stanley decreased their price objective on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Citigroup downgraded shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $39.00 to $32.00 in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $38.65.
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 provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
Recommended Story: Investing in Growth Stocks