Strategic Investment Advisors MI Buys Shares of 38,846 Citizens Financial Group, Inc. (NYSE:CFG)

Strategic Investment Advisors MI bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 38,846 shares of the bank's stock, valued at approximately $1,592,000.

A number of other institutional investors have also made changes to their positions in the business. Asset Management One Co. Ltd. increased its holdings in shares of Citizens Financial Group by 12.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 180,889 shares of the bank's stock worth $7,411,000 after acquiring an additional 19,847 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Citizens Financial Group in the 1st quarter valued at $523,000. Heartland Bank & Trust Co acquired a new position in Citizens Financial Group in the 1st quarter valued at $398,000. Center For Asset Management LLC acquired a new position in Citizens Financial Group in the 1st quarter valued at $636,000. Finally, GAM Holding AG acquired a new position in Citizens Financial Group in the 1st quarter valued at $1,281,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

Shares of CFG stock traded up $0.40 on Friday, hitting $44.52. 7,484,240 shares of the company's stock were exchanged, compared to its average volume of 4,817,931. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25. The stock has a market cap of $19.46 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.75 and a beta of 0.75. The company has a 50 day moving average of $40.10 and a 200 day moving average of $42.08.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.84% and a net margin of 12.76%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

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

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.77%. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Analysts Set New Price Targets

A number of research analysts have commented on CFG shares. Piper Sandler decreased their price objective on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. DA Davidson decreased their price objective on Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Argus set a $45.00 price objective on Citizens Financial Group in a report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Stephens decreased their price objective on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Seven investment 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 company's stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and a consensus price target of $47.89.

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.