Handelsbanken Fonder AB Has $3.94 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

Handelsbanken Fonder AB increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,233 shares of the bank's stock after purchasing an additional 10,720 shares during the quarter. Handelsbanken Fonder AB's holdings in Citizens Financial Group were worth $3,943,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth about $421,000. Arvest Bank Trust Division acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth about $2,196,000. Atria Wealth Solutions Inc. increased its position in shares of Citizens Financial Group by 109.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,052 shares of the bank's stock worth $484,000 after purchasing an additional 5,779 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Citizens Financial Group by 658.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 12,580 shares of the bank's stock worth $551,000 after purchasing an additional 10,921 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth about $6,906,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CFG. Raymond James reiterated a "strong-buy" rating and set a $48.00 target price (down previously from $58.00) on shares of Citizens Financial Group in a research report on Thursday, April 17th. Cowen began coverage on shares of Citizens Financial Group in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. DA Davidson dropped their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating for the company in a research note 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 research note on Friday, May 30th. Finally, Jefferies Financial Group began coverage on shares of Citizens Financial Group in a research note on Wednesday, May 21st. They issued a "buy" rating and a $50.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.89.

Citizens Financial Group Trading Down 2.2%

Shares of NYSE:CFG traded down $0.90 during trading on Friday, hitting $40.27. 4,457,639 shares of the company's stock were exchanged, compared to its average volume of 4,822,459. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25. The firm has a 50-day moving average price of $38.77 and a two-hundred day moving average price of $42.40. 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 firm has a market cap of $17.60 billion, a P/E ratio of 13.29, a PEG ratio of 0.81 and a beta of 0.75.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Equities analysts predict 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 issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Citizens Financial Group declared that its Board of Directors has initiated 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 reacquire up to 8.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.