Jump Financial LLC Takes $3.75 Million Position in Citizens Financial Group, Inc. $CFG

Key Points

• Jump Financial LLC acquired a new stake in Citizens Financial Group by purchasing 91,423 shares valued at approximately $3.75 million during the first quarter.
• Citizens Financial Group reported a quarterly earnings of $0.92 per share, exceeding analysts' estimates of $0.88, and had a revenue of $2.04 billion for the quarter.
• The company announced a quarterly dividend of $0.42 per share, representing an annualized dividend of $1.68 and a yield of 3.3% for shareholders.

Jump Financial LLC purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 91,423 shares of the bank's stock, valued at approximately $3,746,000.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. purchased a new position in Citizens Financial Group in the fourth quarter valued at $26,000. Grove Bank & Trust raised its position in Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after purchasing an additional 334 shares in the last quarter. Colonial Trust Co SC boosted its stake in shares of Citizens Financial Group by 673.0% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after buying an additional 774 shares during the period. Cary Street Partners Investment Advisory LLC grew 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 buying an additional 634 shares in the last quarter. Finally, NBT Bank N A NY acquired a new position in shares of Citizens Financial Group during the first quarter worth about $45,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CFG shares. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Wednesday, July 9th. UBS Group lifted their price objective on shares of Citizens Financial Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Evercore ISI upgraded shares of Citizens Financial Group from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $48.00 to $55.00 in a research note on Friday, July 18th. Jefferies Financial Group initiated coverage on Citizens Financial Group in a research note on Wednesday, May 21st. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Citigroup lifted their price target on Citizens Financial Group from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Citizens Financial Group has a consensus rating of "Moderate Buy" and an average target price of $51.53.

Citizens Financial Group Stock Performance

Shares of NYSE CFG traded up $0.14 during trading hours on Friday, reaching $52.30. The stock had a trading volume of 2,616,557 shares, compared to its average volume of 3,871,637. The firm has a 50-day moving average of $47.92 and a 200-day moving average of $42.93. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.57 and a beta of 0.78. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $52.53.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The firm's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. Equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group announced that its Board of Directors has approved a share repurchase plan on Friday, June 13th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the bank to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.68 dividend on an annualized basis and a yield of 3.2%. Citizens Financial Group's dividend payout ratio is currently 51.06%.

Citizens Financial Group Company 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.