Natixis Advisors LLC Decreases Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Key Points

• Natixis Advisors LLC reduced its holdings in Citizens Financial Group by 8.4%, owning approximately 0.14% of the company worth $25.96 million after the sale of 58,065 shares.
• Citizens Financial Group recently announced a quarterly dividend of $0.42, representing a 3.6% yield, and approved a $1.50 billion share repurchase program allowing for the buyback of up to 8.5% of its shares.
• Analysts have a consensus rating of "Moderate Buy" for Citizens Financial Group, with an average price target of $51.53 based on various ratings and estimates from multiple firms.

Natixis Advisors LLC decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 633,730 shares of the bank's stock after selling 58,065 shares during the period. Natixis Advisors LLC owned about 0.14% of Citizens Financial Group worth $25,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CFG. Heartland Bank & Trust Co acquired a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $398,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Citizens Financial Group by 19.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank's stock worth $2,248,000 after buying an additional 8,851 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Citizens Financial Group by 425.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank's stock valued at $1,069,000 after purchasing an additional 21,138 shares during the period. World Investment Advisors bought a new position in shares of Citizens Financial Group during the 1st quarter worth about $410,000. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of Citizens Financial Group by 37.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank's stock worth $292,000 after acquiring an additional 1,957 shares during the period. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Down 1.9%

NYSE:CFG traded down $0.93 on Friday, reaching $46.79. 5,798,990 shares of the stock traded hands, compared to its average volume of 5,702,535. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78. The company's 50 day moving average is $44.60 and its 200-day moving average is $42.67. 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 1-year low of $32.60 and a 1-year high of $49.98.

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

Citizens Financial Group declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 13th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 8.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.6%. Citizens Financial Group's dividend payout ratio (DPR) is 51.06%.

Analyst Ratings Changes

CFG has been the subject of several research reports. Truist Financial lowered their price objective on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group lowered their target price on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $48.50 to $52.00 in a report on Friday. Barclays boosted their target price on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, Stephens cut their price objective 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. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and an average target price of $51.53.

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.