Symmetry Partners LLC Reduces Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Symmetry Partners LLC trimmed its stake in Citizens Financial Group, Inc. (NYSE:CFGGet Rating) by 64.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,536 shares of the bank’s stock after selling 15,474 shares during the quarter. Symmetry Partners LLC’s holdings in Citizens Financial Group were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFG. Raleigh Capital Management Inc. purchased a new position in Citizens Financial Group in the first quarter valued at about $31,000. Carolinas Wealth Consulting LLC lifted its stake in shares of Citizens Financial Group by 37.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 772 shares of the bank’s stock valued at $36,000 after buying an additional 210 shares in the last quarter. Mystic Asset Management Inc. purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at approximately $37,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Citizens Financial Group during the 1st quarter valued at approximately $38,000. Finally, Spire Wealth Management lifted its stake in shares of Citizens Financial Group by 24.3% during the 1st quarter. Spire Wealth Management now owns 1,483 shares of the bank’s stock valued at $67,000 after buying an additional 290 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on CFG shares. Wolfe Research dropped their price target on shares of Citizens Financial Group from $48.00 to $33.00 and set an “underperform” rating on the stock in a research note on Thursday, May 26th. Credit Suisse Group dropped their price target on shares of Citizens Financial Group to $42.00 in a research note on Friday, July 22nd. Morgan Stanley dropped their price target on shares of Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. The Goldman Sachs Group dropped their price target on shares of Citizens Financial Group from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Citizens Financial Group from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.44.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $36.87 on Monday. The company’s fifty day moving average price is $37.49 and its 200-day moving average price is $39.98. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of 9.33 and a beta of 1.40. Citizens Financial Group, Inc. has a one year low of $34.35 and a one year high of $57.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.88.

Citizens Financial Group (NYSE:CFGGet Rating) last announced its quarterly earnings data on Tuesday, July 19th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.12. Citizens Financial Group had a net margin of 25.04% and a return on equity of 10.26%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company earned $1.46 EPS. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 4.37 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16th. Stockholders of record on Tuesday, August 2nd were paid a $0.42 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, August 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.56%. Citizens Financial Group’s dividend payout ratio is 42.53%.

Citizens Financial Group announced that its Board of Directors has authorized a stock buyback plan on Monday, June 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to buy up to 5.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

About Citizens Financial Group

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Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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