Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group Inc. RI reduced its holdings in Citizens Financial Group by 3.7% in Q1 2023, owning 426,997 shares valued at approximately $17.49 million.
• Analysts have set a consensus price target of $51.53 for Citizens Financial Group, with ratings ranging from hold to strong buy from various institutions.
• The bank recently announced a $0.42 quarterly dividend, representing an annualized yield of 3.6%, and initiated a share repurchase program worth $1.5 billion.

Citizens Financial Group Inc. RI cut its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 426,997 shares of the bank's stock after selling 16,512 shares during the quarter. Citizens Financial Group Inc. RI owned about 0.10% of Citizens Financial Group worth $17,494,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Citizens Financial Group in the fourth quarter worth $26,000. Grove Bank & Trust lifted its position 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 purchasing an additional 334 shares during the last quarter. Colonial Trust Co SC lifted its position 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 purchasing an additional 774 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank's stock worth $44,000 after purchasing an additional 634 shares during the last quarter. Finally, NBT Bank N A NY bought a new stake in shares of Citizens Financial Group during the first quarter worth $45,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Up 1.4%

Citizens Financial Group stock traded up $0.65 during trading hours on Friday, reaching $47.29. The stock had a trading volume of 3,150,619 shares, compared to its average volume of 5,305,761. The company has a market cap of $20.40 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84. The business's 50 day moving average price is $45.31 and its 200-day moving average price is $42.69. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $49.98.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

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

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. Citizens Financial Group's dividend payout ratio is 51.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CFG. Royal Bank Of Canada decreased their target price on 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. The Goldman Sachs Group decreased their target price on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Citigroup lifted their target price on Citizens Financial Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Evercore ISI upgraded Citizens Financial Group from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $48.00 to $55.00 in a research report on Friday, July 18th. Finally, Piper Sandler decreased their target price on 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. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.53.

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.