Citizens Financial Group, Inc. $CFG Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.0% during the second quarter, HoldingsChannel reports. The firm owned 161,783 shares of the bank’s stock after selling 1,689 shares during the quarter. TD Asset Management Inc’s holdings in Citizens Financial Group were worth $7,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morningstar Investment Management LLC acquired a new position in Citizens Financial Group in the second quarter valued at $348,000. NorthRock Partners LLC grew its holdings in Citizens Financial Group by 19.3% in the 2nd quarter. NorthRock Partners LLC now owns 6,908 shares of the bank’s stock valued at $309,000 after buying an additional 1,116 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Citizens Financial Group by 29.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,995 shares of the bank’s stock valued at $1,432,000 after acquiring an additional 7,281 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth about $1,450,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Citizens Financial Group by 11.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 69,778 shares of the bank’s stock worth $3,128,000 after acquiring an additional 7,003 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $49.26 on Monday. The firm’s fifty day simple moving average is $51.37 and its 200 day simple moving average is $45.22. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $55.24. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.54 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be given a dividend of $0.46 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $1.84 annualized dividend and a yield of 3.7%. Citizens Financial Group’s dividend payout ratio is presently 47.06%.

Analyst Ratings Changes

CFG has been the subject of several research analyst reports. Barclays upped their price target on shares of Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $53.00 to $71.00 in a report on Monday, September 29th. Bank of America raised Citizens Financial Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $65.00 in a research report on Thursday, October 9th. Wall Street Zen raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average price target of $56.57.

About Citizens Financial Group

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.