KBC Group NV Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

KBC Group NV cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 41.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,535 shares of the bank's stock after selling 368,107 shares during the quarter. KBC Group NV owned approximately 0.12% of Citizens Financial Group worth $21,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $243,431,000. Wellington Management Group LLP boosted its position in shares of Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock valued at $462,547,000 after acquiring an additional 2,298,040 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Citizens Financial Group by 20.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after acquiring an additional 1,672,204 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 32.2% in the fourth quarter. AQR Capital Management LLC now owns 6,186,364 shares of the bank's stock valued at $270,715,000 after acquiring an additional 1,507,536 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Citizens Financial Group during the fourth quarter worth about $56,483,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Up 1.5%

Shares of CFG stock traded up $0.69 on Friday, hitting $47.72. The stock had a trading volume of 3,302,892 shares, compared to its average volume of 4,842,877. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.25. The stock has a market cap of $20.86 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.81 and a beta of 0.76. The business has a 50 day moving average of $40.93 and a 200 day moving average of $42.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion during 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%. As a group, analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group announced that its board has authorized a share buyback program on Friday, June 13th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 3.52%. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Cowen assumed coverage on Citizens Financial Group in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. JPMorgan Chase & Co. reduced their target price on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group decreased their price target on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. UBS Group upped 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. Finally, Stephens dropped their target price on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.68.

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.