Sciencast Management LP Has $1.29 Million Stock Position in Citizens Financial Group, Inc. $CFG

Key Points

• Sciencast Management LP reduced its stake in Citizens Financial Group by 49.3%, now owning 31,480 shares after selling 30,646 shares in the first quarter.
• The bank recently announced a quarterly dividend of $0.42 per share, providing a yield of 3.2% with a payout ratio of 51.06%.
• Citizens Financial Group's stock price has been upgraded by multiple analysts, with price targets now ranging from $53.00 to $55.00 following positive quarterly earnings results.

Sciencast Management LP lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 49.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,480 shares of the bank's stock after selling 30,646 shares during the period. Sciencast Management LP's holdings in Citizens Financial Group were worth $1,290,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CFG. Balyasny Asset Management L.P. boosted its holdings in Citizens Financial Group by 8.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 9,977 shares of the bank's stock valued at $437,000 after purchasing an additional 777 shares during the period. Cetera Investment Advisers boosted its holdings in Citizens Financial Group by 5.3% in the 4th quarter. Cetera Investment Advisers now owns 155,418 shares of the bank's stock valued at $6,801,000 after purchasing an additional 7,823 shares during the period. Focus Partners Wealth boosted its holdings in Citizens Financial Group by 20.5% in the 4th quarter. Focus Partners Wealth now owns 26,025 shares of the bank's stock valued at $1,139,000 after purchasing an additional 4,420 shares during the period. Jefferies Financial Group Inc. boosted its holdings in Citizens Financial Group by 105.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 31,490 shares of the bank's stock valued at $1,378,000 after purchasing an additional 16,169 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Citizens Financial Group by 194.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 224,822 shares of the bank's stock valued at $9,838,000 after purchasing an additional 148,431 shares during the period. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

CFG stock traded up $0.06 during trading on Friday, reaching $51.82. 3,733,159 shares of the company were exchanged, compared to its average volume of 4,695,975. The company has a 50-day moving average of $49.19 and a two-hundred day moving average of $43.31. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 0.57 and a beta of 0.80. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $52.85. 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 released its quarterly earnings data 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 net margin of 13.26% and a return on equity of 6.94%. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

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

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group's dividend payout ratio is 51.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Citizens Financial Group in a report on Wednesday. They set an "overweight" rating and a $61.00 price target for the company. Keefe, Bruyette & Woods raised shares of Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a report on Wednesday, July 9th. Raymond James Financial upped their price target on shares of Citizens Financial Group from $48.00 to $57.00 and gave the stock a "strong-buy" rating in a report on Friday, July 18th. Wall Street Zen raised shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Barclays upped their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

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.