Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 86.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,227 shares of the bank's stock after purchasing an additional 11,211 shares during the period. Kingswood Wealth Advisors LLC's holdings in Citizens Financial Group were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in Citizens Financial Group during the 4th quarter worth $26,000. Grove Bank & Trust grew its stake in shares of Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after acquiring an additional 334 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after acquiring an additional 774 shares in the last quarter. NBT Bank N A NY purchased a new stake in shares of Citizens Financial Group during the first quarter worth about $45,000. Finally, Duncker Streett & Co. Inc. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $51,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CFG. Piper Sandler dropped their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a research report on Thursday, April 17th. Jefferies Financial Group began coverage on Citizens Financial Group in a research report on Wednesday, May 21st. They set a "buy" rating and a $50.00 target price on the stock. Royal Bank Of Canada dropped their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley dropped their target price on Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a research 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 investment 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. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.89.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG traded up $0.82 during trading hours on Monday, hitting $42.53. The stock had a trading volume of 4,508,075 shares, compared to its average volume of 4,818,002. The stock's fifty day simple moving average is $39.45 and its 200 day simple moving average is $42.12. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.71 and a beta of 0.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 0.85.

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

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

Citizens Financial Group Dividend Announcement

The company also recently declared 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 dividend yield of 3.95%. Citizens Financial Group's payout ratio is currently 53.33%.

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.