Kentucky Retirement Systems Insurance Trust Fund Takes $523,000 Position in Citizens Financial Group, Inc. (NYSE:CFG)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,773 shares of the bank's stock, valued at approximately $523,000.

Other hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of Citizens Financial Group during the 4th quarter valued at $26,000. Grove Bank & Trust increased its position in shares of Citizens Financial Group by 97.1% during 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 during the period. Colonial Trust Co SC increased its position in shares of Citizens Financial Group by 673.0% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after purchasing an additional 774 shares during the period. NBT Bank N A NY acquired a new position in shares of Citizens Financial Group during the 1st quarter valued at $45,000. Finally, Duncker Streett & Co. Inc. acquired a new position in shares of Citizens Financial Group in the 4th quarter worth $51,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $42.96 on Wednesday. The stock has a market cap of $18.78 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.72 and a beta of 0.75. The business has a fifty day simple moving average of $39.59 and a 200-day simple moving average of $42.12. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.84% and a net margin of 12.76%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal 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 shares. This buyback authorization permits the bank to repurchase up to 8.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, April 30th. Citizens Financial Group's dividend payout ratio (DPR) is presently 53.33%.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of recent research reports. Barclays decreased their target price on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Piper Sandler decreased their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their target price on 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. Royal Bank Of Canada decreased their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley decreased their target price on Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.