Skandinaviska Enskilda Banken AB publ Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 14.3% in the second quarter, Holdings Channel reports. The firm owned 166,972 shares of the bank’s stock after selling 27,955 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Citizens Financial Group were worth $7,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC grew its position in shares of Citizens Financial Group by 17.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,643 shares of the bank’s stock valued at $75,000 after purchasing an additional 240 shares in the last quarter. Quadrant Capital Group LLC grew its position in Citizens Financial Group by 9.1% in the second quarter. Quadrant Capital Group LLC now owns 2,944 shares of the bank’s stock worth $135,000 after acquiring an additional 246 shares in the last quarter. Usca Ria LLC grew its position in Citizens Financial Group by 0.6% in the second quarter. Usca Ria LLC now owns 40,598 shares of the bank’s stock worth $1,862,000 after acquiring an additional 255 shares in the last quarter. Advisors Asset Management Inc. grew its position in Citizens Financial Group by 1.4% in the first quarter. Advisors Asset Management Inc. now owns 18,938 shares of the bank’s stock worth $836,000 after acquiring an additional 265 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its stake in Citizens Financial Group by 10.5% in the second quarter. NEXT Financial Group Inc now owns 2,883 shares of the bank’s stock worth $132,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Shares of CFG opened at $43.72 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Citizens Financial Group, Inc. has a 12-month low of $23.46 and a 12-month high of $51.14. The firm has a 50-day moving average price of $43.56 and a 200 day moving average price of $45.39. The firm has a market capitalization of $18.63 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.29 and a beta of 1.77.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Monday, July 19th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.33. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. Citizens Financial Group had a net margin of 28.12% and a return on equity of 10.11%. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities research analysts predict that Citizens Financial Group, Inc. will post 5.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, July 29th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 64.73%.

Several brokerages have recently commented on CFG. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, July 14th. Barclays upped their price objective on shares of Citizens Financial Group from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, July 8th. Citigroup started coverage on shares of Citizens Financial Group in a report on Friday, July 16th. They set a “hold” rating and a $43.65 price target on the stock. Morgan Stanley increased their price target on shares of Citizens Financial Group from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, May 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Buy” and a consensus target price of $47.73.

About Citizens Financial Group

Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

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

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