Kingswood Wealth Advisors LLC Acquires 11,211 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Kingswood Wealth Advisors LLC grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 86.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,227 shares of the bank's stock after buying an additional 11,211 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Citizens Financial Group were worth $984,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. NBT Bank N A NY purchased a new stake in Citizens Financial Group during the first quarter valued at approximately $45,000. 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 last quarter. Asio Capital LLC raised its holdings in Citizens Financial Group by 2.3% during the 1st quarter. Asio Capital LLC now owns 103,879 shares of the bank's stock valued at $4,256,000 after buying an additional 2,338 shares during the period. Brighton Jones LLC bought a new stake in Citizens Financial Group in the first quarter worth $213,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Citizens Financial Group by 393.8% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 62,343 shares of the bank's stock worth $2,554,000 after buying an additional 49,718 shares during the period. Institutional investors own 94.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CFG shares. Jefferies Financial Group assumed 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 on the stock. Truist Financial reduced their price objective on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Raymond James Financial restated 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. Keefe, Bruyette & Woods cut their target price on Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler decreased their price target on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $47.89.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $41.31 on Friday. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.70 and a beta of 0.75. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The company's 50 day moving average is $39.17 and its 200 day moving average is $42.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released 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 return on equity of 6.84% and a net margin of 12.76%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates 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 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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Citizens Financial Group announced that its board has approved 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is 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.

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