Perpetual Ltd Trims Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Perpetual Ltd trimmed its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,807 shares of the bank's stock after selling 11,607 shares during the quarter. Perpetual Ltd's holdings in Citizens Financial Group were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $26,000. Grove Bank & Trust grew its stake in shares of Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after buying an additional 334 shares during the last quarter. Colonial Trust Co SC increased its position in 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 buying an additional 774 shares in the last quarter. NBT Bank N A NY purchased a new position in Citizens Financial Group during the first quarter valued at $45,000. Finally, Duncker Streett & Co. Inc. purchased a new position in Citizens Financial Group during the fourth quarter valued at $51,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group began coverage on Citizens Financial Group in a report on Wednesday, May 21st. They set a "buy" rating and a $50.00 price target for the company. Truist Financial reduced 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 note on Thursday, April 17th. Stephens dropped their target price on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. TD Cowen assumed coverage on shares of Citizens Financial Group in a report on Thursday, May 15th. They set a "buy" rating and a $57.00 price target on the stock. Finally, Argus set a $45.00 price target on shares of Citizens Financial Group in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $47.89.

Citizens Financial Group Stock Up 0.9%

CFG stock opened at $44.52 on Friday. The company has a market cap of $19.46 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 0.75 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. The business's 50-day moving average is $40.10 and its two-hundred day moving average is $42.08. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25.

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, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 12.76% and a return on equity of 6.84%. As a group, analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group announced that its board has approved a stock repurchase program on Friday, June 13th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders 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 yield of 3.77%. Citizens Financial Group's payout ratio is presently 53.33%.

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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