Sowell Financial Services LLC Makes New $238,000 Investment in Citizens Financial Group, Inc. $CFG

Key Points

• Sowell Financial Services LLC has made a new investment of approximately $238,000 in Citizens Financial Group, acquiring 5,314 shares of the bank's stock.
• The bank recently reported earnings of $0.92 per share for the quarter, surpassing analyst expectations, and a revenue of $2.04 billion.
• Citizens Financial Group's board has authorized a stock buyback program allowing the repurchase of $1.50 billion in shares, indicating confidence in the stock's value.

Sowell Financial Services LLC acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,314 shares of the bank's stock, valued at approximately $238,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Citizens Financial Group during the fourth quarter worth about $26,000. Investors Research Corp grew its stake in shares of Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank's stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after purchasing an additional 334 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Citizens Financial Group by 143.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank's stock valued at $44,000 after purchasing an additional 634 shares during the last quarter. Finally, NBT Bank N A NY bought a new stake in shares of Citizens Financial Group during the first quarter valued at approximately $45,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Up 1.0%

CFG opened at $53.40 on Friday. The firm's fifty day moving average is $50.28 and its two-hundred day moving average is $44.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $23.03 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $53.89.

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

Citizens Financial Group announced that its board has authorized a stock buyback program on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.42 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.1%. Citizens Financial Group's dividend payout ratio (DPR) is 51.06%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CFG shares. Barclays increased their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. DA Davidson increased their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company set a $57.00 price target on shares of Citizens Financial Group in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, 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 on the stock in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.35.

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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