77,555 Shares in Citizens Financial Group, Inc. $CFG Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 77,555 shares of Citizens Financial Group, valued at approximately $3.18 million, making it the firm's 11th largest holding.
• The bank reported $0.92 earnings per share (EPS) for the recent quarter, beating the consensus estimate, with a revenue increase of 3.8% year-over-year.
• Citizens Financial Group declared a quarterly dividend of $0.42 per share, with an annualized dividend yield of 3.2% and a planned stock buyback of $1.5 billion.

Dynamic Technology Lab Private Ltd bought a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 77,555 shares of the bank's stock, valued at approximately $3,177,000. Citizens Financial Group makes up 0.5% of Dynamic Technology Lab Private Ltd's investment portfolio, making the stock its 11th largest holding.

A number of other large investors also recently modified their holdings of CFG. Heartland Bank & Trust Co purchased a new stake in Citizens Financial Group in the 1st quarter valued at $398,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Citizens Financial Group by 19.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank's stock valued at $2,248,000 after buying an additional 8,851 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Citizens Financial Group by 425.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank's stock valued at $1,069,000 after buying an additional 21,138 shares during the last quarter. World Investment Advisors purchased a new stake in Citizens Financial Group in the 1st quarter valued at $410,000. Finally, OneDigital Investment Advisors LLC raised its position in Citizens Financial Group by 37.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank's stock valued at $292,000 after buying an additional 1,957 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Trading Down 1.5%

Shares of Citizens Financial Group stock opened at $51.71 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $52.85. The firm has a market cap of $22.31 billion, a PE ratio of 15.72, a P/E/G ratio of 0.57 and a beta of 0.80. The stock has a fifty day moving average price of $48.76 and a 200-day moving average price of $43.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84.

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

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group's dividend payout ratio is presently 51.06%.

Citizens Financial Group declared that its board has authorized a stock repurchase program on Friday, June 13th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the bank to reacquire up to 8.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays increased their price target on Citizens Financial Group from $49.00 to $55.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Citigroup increased their price target on Citizens Financial Group from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Evercore ISI raised Citizens Financial Group from an "in-line" rating to an "outperform" rating and increased their price target for the company from $48.00 to $55.00 in a research report on Friday, July 18th. TD Cowen assumed coverage on Citizens Financial Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $57.00 price target for the company. Finally, Cowen assumed coverage on Citizens Financial Group in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $51.53.

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.

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