Asset Management One Co. Ltd. Boosts Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Asset Management One Co. Ltd. lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,889 shares of the bank's stock after acquiring an additional 19,847 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Citizens Financial Group were worth $7,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Citizens Financial Group during the 4th quarter worth about $26,000. Grove Bank & Trust increased its stake in shares of Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after buying an additional 334 shares during the period. Colonial Trust Co SC increased its stake in shares of Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock worth $39,000 after buying an additional 774 shares during the period. NBT Bank N A NY purchased a new stake in shares of Citizens Financial Group in the 1st quarter valued at approximately $45,000. Finally, Duncker Streett & Co. Inc. purchased a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

NYSE CFG opened at $44.52 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. The business's 50-day moving average price is $40.10 and its 200 day moving average price is $42.11. The firm has a market cap of $19.46 billion, a P/E ratio of 14.13, a P/E/G ratio of 0.75 and a beta of 0.75.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.84% and a net margin of 12.76%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its board has authorized a share repurchase plan on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.77%. Citizens Financial Group's dividend payout ratio (DPR) is 53.33%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial dropped their target price on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Raymond James Financial reiterated a "strong-buy" rating and issued a $48.00 price objective (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group dropped their price target on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Jefferies Financial Group assumed coverage on shares of Citizens Financial Group in a research note on Wednesday, May 21st. They issued a "buy" rating and a $50.00 price target on the stock. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.89.

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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