5,217 Shares in Citizens Financial Group, Inc. $CFG Acquired by Kera Capital Partners Inc.

Key Points

• Kera Capital Partners Inc. acquired 5,217 shares of Citizens Financial Group, valued at approximately $233,000, during the second quarter.
• The company reported $0.92 EPS for the last quarter, surpassing the consensus estimate of $0.88, alongside revenues of $2.04 billion.
• Citizens Financial Group announced a quarterly dividend of $0.42, resulting in an annualized yield of 3.2%.

Kera Capital Partners Inc. bought a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,217 shares of the bank's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Voya Investment Management LLC raised its holdings in shares of Citizens Financial Group by 7.5% in the 1st quarter. Voya Investment Management LLC now owns 136,374 shares of the bank's stock worth $5,587,000 after purchasing an additional 9,557 shares in the last quarter. Strs Ohio bought a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $1,760,000. Geneos Wealth Management Inc. raised its holdings in shares of Citizens Financial Group by 29.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,475 shares of the bank's stock worth $306,000 after purchasing an additional 1,693 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $977,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Citizens Financial Group by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,583,034 shares of the bank's stock valued at $146,797,000 after acquiring an additional 204,402 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

CFG stock opened at $51.82 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 0.57 and a beta of 0.80. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $52.85. The firm has a 50 day moving average of $49.27 and a two-hundred day moving average of $43.33.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 31st. Citizens Financial Group's payout ratio is currently 51.06%.

Citizens Financial Group announced that its board has approved a stock buyback program on Friday, June 13th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the bank to purchase up to 8.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target on the stock in a report on Wednesday, July 9th. Cantor Fitzgerald assumed coverage on shares of Citizens Financial Group in a report on Wednesday, September 10th. They set an "overweight" rating and a $61.00 price target on the stock. UBS Group boosted their price target on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company set a $57.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised shares of Citizens Financial Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $48.50 to $52.00 in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.00.

Citizens Financial Group Profile

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.

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