NorthCrest Asset Manangement LLC Takes $287,000 Position in Citizens Financial Group, Inc. (NYSE:CFG)

NorthCrest Asset Manangement LLC bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,996 shares of the bank's stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CFG. Great Valley Advisor Group Inc. boosted its holdings in shares of Citizens Financial Group by 0.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank's stock worth $1,740,000 after buying an additional 224 shares during the period. 1620 Investment Advisors Inc. boosted its stake in Citizens Financial Group by 3.2% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank's stock worth $338,000 after purchasing an additional 238 shares during the period. True Wealth Design LLC grew its position in Citizens Financial Group by 10.5% during the 4th quarter. True Wealth Design LLC now owns 2,890 shares of the bank's stock worth $126,000 after purchasing an additional 275 shares in the last quarter. Park Avenue Securities LLC raised its stake in Citizens Financial Group by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank's stock valued at $2,207,000 after purchasing an additional 289 shares during the period. Finally, Gallagher Fiduciary Advisors LLC raised its stake in Citizens Financial Group by 1.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 17,386 shares of the bank's stock valued at $761,000 after purchasing an additional 327 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CFG shares. Raymond James reiterated a "strong-buy" rating and set a $48.00 price target (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Truist Financial dropped their target price on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Barclays decreased their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. DA Davidson dropped their price objective on shares of Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Cowen started coverage on shares of Citizens Financial Group in a research note on Wednesday, May 14th. They set a "buy" rating for the company. 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.89.

Citizens Financial Group Stock Performance

CFG traded up $0.69 during trading on Monday, hitting $41.02. The stock had a trading volume of 5,069,947 shares, compared to its average volume of 4,823,439. The firm has a market cap of $17.93 billion, a PE ratio of 13.54, a P/E/G ratio of 0.81 and a beta of 0.75. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25. The company has a 50 day simple moving average of $38.77 and a 200-day simple moving average of $42.36.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. Citizens Financial Group's dividend payout ratio is 53.33%.

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