Citizens Financial Group Inc (CFG) Stake Lifted by Tradition Capital Management LLC
Tradition Capital Management LLC grew its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,037 shares of the bank’s stock after buying an additional 2,950 shares during the period. Citizens Financial Group accounts for 1.7% of Tradition Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Tradition Capital Management LLC’s holdings in Citizens Financial Group were worth $5,836,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. First Mercantile Trust Co. purchased a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $102,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Citizens Financial Group by 8,430.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,815 shares of the bank’s stock valued at $110,000 after purchasing an additional 2,782 shares during the period. First Personal Financial Services bought a new stake in Citizens Financial Group during the 1st quarter valued at approximately $112,000. Adviser Investments LLC bought a new stake in Citizens Financial Group during the 1st quarter valued at approximately $155,000. Finally, Citizens Financial Group Inc RI raised its stake in Citizens Financial Group by 255.4% during the 1st quarter. Citizens Financial Group Inc RI now owns 3,796 shares of the bank’s stock valued at $159,000 after purchasing an additional 2,728 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CFG opened at $40.69 on Friday. The company has a market cap of $19.17 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 0.54 and a beta of 1.37. Citizens Financial Group Inc has a 12-month low of $31.51 and a 12-month high of $48.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were paid a $0.27 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, July 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.65%. Citizens Financial Group’s payout ratio is presently 41.86%.
In other Citizens Financial Group news, insider Randall J. Black sold 792 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $41.49, for a total value of $32,860.08. Following the sale, the insider now owns 34,258 shares of the company’s stock, valued at approximately $1,421,364.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.
Several analysts recently issued reports on CFG shares. Citigroup reissued a “hold” rating on shares of Citizens Financial Group in a research note on Friday, April 20th. Sandler O’Neill raised Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Monday, April 23rd. BMO Capital Markets decreased their target price on Citizens Financial Group from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, April 23rd. Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Wednesday, May 30th. Finally, Morgan Stanley lifted their target price on Citizens Financial Group from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, May 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.40.
Citizens Financial Group Company Profile
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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