Commerzbank Aktiengesellschaft FI Raises Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Commerzbank Aktiengesellschaft FI boosted its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 277.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 28,832 shares of the bank's stock after acquiring an additional 21,195 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Citizens Financial Group were worth $1,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Great Valley Advisor Group Inc. raised its holdings in shares of Citizens Financial Group by 0.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank's stock valued at $1,740,000 after buying an additional 224 shares in the last quarter. 1620 Investment Advisors Inc. lifted its stake in Citizens Financial Group by 3.2% in the fourth quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank's stock worth $338,000 after acquiring an additional 238 shares during the period. True Wealth Design LLC lifted its position in Citizens Financial Group by 10.5% during the fourth quarter. True Wealth Design LLC now owns 2,890 shares of the bank's stock valued at $126,000 after buying an additional 275 shares during the period. Park Avenue Securities LLC lifted its position in Citizens Financial Group by 0.5% during the first quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank's stock valued at $2,207,000 after buying an additional 289 shares during the period. Finally, Gallagher Fiduciary Advisors LLC lifted its position in Citizens Financial Group by 1.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 17,386 shares of the bank's stock valued at $761,000 after buying an additional 327 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler reduced their price objective 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. Wells Fargo & Company set a $57.00 price target on Citizens Financial Group in a research note on Wednesday, July 2nd. Royal Bank Of Canada cut their price target on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Truist Financial cut their price target on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Finally, Argus set a $45.00 price target on Citizens Financial Group in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and an average target price of $50.89.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG traded down $0.21 during trading on Friday, hitting $48.61. The stock had a trading volume of 9,470,067 shares, compared to its average volume of 4,846,543. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.68. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $43.05 and a two-hundred day simple moving average of $42.43.

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

Citizens Financial Group declared that its Board of Directors has approved a stock buyback plan on Friday, June 13th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 8.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, July 31st. Citizens Financial Group's dividend payout ratio is presently 51.06%.

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.