GAM Holding AG Takes Position in Citizens Financial Group, Inc. (NYSE:CFG)

GAM Holding AG purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 31,261 shares of the bank's stock, valued at approximately $1,281,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital World Investors grew its holdings in shares of Citizens Financial Group by 3.3% during the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock valued at $1,570,989,000 after purchasing an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Citizens Financial Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock valued at $477,043,000 after purchasing an additional 124,860 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Citizens Financial Group by 27.8% during the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock valued at $462,547,000 after purchasing an additional 2,298,040 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after purchasing an additional 1,672,204 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Citizens Financial Group by 6.4% during the 4th quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank's stock valued at $273,378,000 after purchasing an additional 374,850 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Up 0.9%

Shares of NYSE:CFG opened at $41.70 on Friday. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.71 and a beta of 0.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. The business's 50-day moving average is $39.31 and its 200-day moving average is $42.18. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25.

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

Citizens Financial Group declared that its board has initiated a share 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 buy up to 8.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.03%. Citizens Financial Group's payout ratio is presently 53.33%.

Analyst Ratings Changes

Several brokerages recently issued reports on CFG. The Goldman Sachs Group decreased 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 report on Thursday, April 17th. Royal Bank Of Canada reduced their target price on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. UBS Group boosted their target price on shares of Citizens Financial Group from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods reduced their target price on shares of Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock 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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