Pennant Capital Management adds Citizens Financial Group Inc (CFG) to its portfolio

Citizens Financial Group Inc (CFG) : Pennant Capital Management added new position in Citizens Financial Group Inc during the most recent quarter end. The investment management firm now holds 2,266,607 shares of Citizens Financial Group Inc which is valued at $69,992,824 , the company said in a statement filed on Nov 14, 2016 with the SEC.Citizens Financial Group Inc makes up approximately 3.04% of Pennant Capital Management’s portfolio.

Other Hedge Funds, Including , Raymond James Financial Services Advisors reduced its stake in CFG by selling 8,480 shares or 37.38% in the most recent quarter. The Hedge Fund company now holds 14,208 shares of CFG which is valued at $438,743.Artisan Partners Limited Partnership reduced its stake in CFG by selling 57,856 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 10,728,031 shares of CFG which is valued at $317,549,718. Citizens Financial Group Inc makes up approx 0.65% of Artisan Partners Limited Partnership’s portfolio.Epoch Investment Partners reduced its stake in CFG by selling 177,673 shares or 4.67% in the most recent quarter. The Hedge Fund company now holds 3,623,948 shares of CFG which is valued at $107,268,861. Citizens Financial Group Inc makes up approx 0.40% of Epoch Investment Partners’s portfolio.Pacer Advisors reduced its stake in CFG by selling 24 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 4,165 shares of CFG which is valued at $123,284. Citizens Financial Group Inc makes up approx 0.02% of Pacer Advisors’s portfolio.Reinhart Partners reduced its stake in CFG by selling 44,129 shares or 3.03% in the most recent quarter. The Hedge Fund company now holds 1,412,806 shares of CFG which is valued at $35,108,229. Citizens Financial Group Inc makes up approx 3.53% of Reinhart Partners’s portfolio.

Citizens Financial Group Inc opened for trading at $31.81 and hit $32.135 on the upside on Monday, eventually ending the session at $31.97, with a gain of 0.76% or 0.24 points. The heightened volatility saw the trading volume jump to 82,28,335 shares. Company has a market cap of $16,365 M.

On the company’s financial health, Citizens Financial Group Inc reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 21, 2016. Analyst had a consensus of $0.48. The company had revenue of $1380.00 million for the quarter, compared to analysts expectations of $1320.35 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Citizens Financial Group Inc. Company shares were Downgraded by Wedbush on Nov 17, 2016 to ” Neutral”, Firm has raised the Price Target to $ 31 from a previous price target of $30 .Citizens Financial Group Inc was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. Citizens Financial Group Inc was Downgraded by Piper Jaffray to ” Neutral” on Nov 16, 2016.

Citizens Financial Group Inc. is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals institutions and companies. The Company operates approximately 1200 branches in an 11-state footprint across the New England Mid-Atlantic and Midwest regions. The Company serves the financial needs of customers and prospects through its online telephone and mobile banking platforms. It also maintains over 100 retail and commercial non-branch offices located both in the Company’s banking footprint and in eleven other states and the District of Columbia. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s subsidiaries are Citizens Bank N.A. (CBNA) and Citizens Bank of Pennsylvania (CBPA).

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