CHURCHILL MANAGEMENT Corp Purchases 10,352 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

CHURCHILL MANAGEMENT Corp boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 5.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 196,232 shares of the bank's stock after acquiring an additional 10,352 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in Citizens Financial Group were worth $8,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Heartland Bank & Trust Co purchased a new position in shares of Citizens Financial Group in the first quarter valued at $398,000. GAM Holding AG bought a new position in Citizens Financial Group during the first quarter valued at $1,281,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Citizens Financial Group in the 1st quarter worth $523,000. SVB Wealth LLC purchased a new position in shares of Citizens Financial Group in the 4th quarter worth $421,000. Finally, Arvest Bank Trust Division bought a new stake in shares of Citizens Financial Group in the 4th quarter worth about $2,196,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Trading Up 3.0%

Shares of NYSE CFG traded up $1.35 during mid-day trading on Tuesday, reaching $46.10. The company had a trading volume of 6,367,031 shares, compared to its average volume of 4,834,155. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.75. 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 is $40.30 and its 200-day moving average is $42.05. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54.

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

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 3.64%. Citizens Financial Group's dividend payout ratio (DPR) is currently 53.33%.

Citizens Financial Group announced that its Board of Directors has authorized a share buyback plan on Friday, June 13th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the bank to purchase up to 8.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CFG shares. Citigroup lowered their price target on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a report on Monday, March 24th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $48.00 price objective (down from $58.00) on shares of Citizens Financial Group in a research note on Thursday, April 17th. Piper Sandler dropped their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group cut their target price on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Cowen began coverage on Citizens Financial Group in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.