Merit Financial Group LLC Has $1.82 Million Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Merit Financial Group LLC increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 121.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,398 shares of the bank's stock after buying an additional 24,316 shares during the quarter. Merit Financial Group LLC's holdings in Citizens Financial Group were worth $1,819,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in Citizens Financial Group during the fourth quarter valued at $26,000. Ameliora Wealth Management Ltd. acquired a new position in Citizens Financial Group during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Citizens Financial Group during the fourth quarter valued at $28,000. Colonial Trust Co SC lifted its position in Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after purchasing an additional 774 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at $47,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CFG shares. Piper Sandler decreased their price objective on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada decreased their price objective on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Morgan Stanley reduced their price target on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Cowen began coverage on shares of Citizens Financial Group in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Stephens reduced their price target on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.89.

Citizens Financial Group Stock Up 2.8%

Citizens Financial Group stock traded up $1.14 during midday trading on Friday, hitting $41.41. The stock had a trading volume of 4,759,591 shares, compared to its average volume of 4,840,087. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market cap of $18.10 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.81 and a beta of 0.75. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25. The business has a fifty day moving average price of $38.27 and a 200 day moving average price of $42.65.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, April 16th. The bank reported $0.77 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 analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.06%. Citizens Financial Group's dividend payout ratio (DPR) is 53.33%.

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.