7,646 Shares in Citizens Financial Group, Inc. $CFG Bought by Retirement Planning Co of New England Inc.

Key Points

• Retirement Planning Co of New England Inc. has acquired a new position in Citizens Financial Group, purchasing 7,646 shares valued at approximately $313,000 during the first quarter.
• Citizens Financial Group announced a $1.50 billion share buyback program, allowing for the repurchase of up to 8.5% of its shares, indicating confidence from the board in the stock's under-valuation.
• The bank reported earnings of $0.92 per share, beating estimates of $0.88, with a revenue of $2.04 billion compared to an anticipated $2.01 billion, reflecting a 3.8% year-over-year increase.

Retirement Planning Co of New England Inc. bought a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,646 shares of the bank's stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP acquired a new position in shares of Citizens Financial Group in the 1st quarter worth approximately $132,000. Junto Capital Management LP acquired a new position in shares of Citizens Financial Group in the 1st quarter worth approximately $38,915,000. Baird Financial Group Inc. boosted its holdings in shares of Citizens Financial Group by 2.0% in the 1st quarter. Baird Financial Group Inc. now owns 221,042 shares of the bank's stock worth $9,056,000 after acquiring an additional 4,346 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Citizens Financial Group by 137.2% in the 1st quarter. Vident Advisory LLC now owns 45,289 shares of the bank's stock worth $1,856,000 after acquiring an additional 26,197 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in Citizens Financial Group by 34.1% in the 1st quarter. Evergreen Capital Management LLC now owns 8,691 shares of the bank's stock worth $356,000 after purchasing an additional 2,209 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Up 0.0%

Shares of Citizens Financial Group stock traded up $0.01 on Wednesday, hitting $51.61. 3,084,112 shares of the company's stock traded hands, compared to its average volume of 3,468,865. The firm's 50-day moving average price is $48.45 and its two-hundred day moving average price is $43.06. The stock has a market capitalization of $22.26 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.57 and a beta of 0.80. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $52.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84.

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

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

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.42 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.3%. Citizens Financial Group's dividend payout ratio is currently 51.06%.

Analysts Set New Price Targets

CFG has been the subject of several research analyst reports. Wells Fargo & Company set a $57.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price objective for the company in a research report on Wednesday, July 9th. Barclays boosted their price objective on shares of Citizens Financial Group from $49.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Citigroup boosted their price objective on shares of Citizens Financial Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group started coverage on shares of Citizens Financial Group in a research report on Wednesday, May 21st. They issued a "buy" rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.53.

Citizens Financial Group Company 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.