42,955 Shares in Citizens Financial Group, Inc. $CFG Acquired by Strs Ohio

Key Points

• Strs Ohio has invested $1.76 million in Citizens Financial Group, purchasing 42,955 shares of the bank's stock during the first quarter.
• Citizens Financial Group reported a 12-month high of $52.85 and a quarterly dividend of $0.42, yielding 3.3% with a payout ratio of 51.06%.
• Multiple analysts have recently upgraded their price targets for Citizens Financial Group, with a consensus target price of $52.00 and an overall rating of "Moderate Buy."

Strs Ohio acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,955 shares of the bank's stock, valued at approximately $1,760,000.

Other institutional investors have also made changes to their positions in the company. AustralianSuper Pty Ltd acquired a new stake in Citizens Financial Group during the first quarter worth approximately $108,864,000. Assetmark Inc. increased its stake in shares of Citizens Financial Group by 11,167.0% during the 1st quarter. Assetmark Inc. now owns 1,347,537 shares of the bank's stock valued at $55,209,000 after acquiring an additional 1,335,577 shares during the last quarter. AQR Capital Management LLC increased its position in Citizens Financial Group by 19.1% during the 1st quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank's stock worth $294,007,000 after purchasing an additional 1,180,390 shares in the last quarter. Junto Capital Management LP acquired a new stake in Citizens Financial Group during the 1st quarter worth approximately $38,915,000. Finally, Deutsche Bank AG boosted its holdings in Citizens Financial Group by 48.9% in the 1st quarter. Deutsche Bank AG now owns 2,790,291 shares of the bank's stock worth $114,318,000 after acquiring an additional 916,760 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.1%

Shares of NYSE:CFG traded down $0.08 during mid-day trading on Friday, reaching $53.56. 9,097,700 shares of the company were exchanged, compared to its average volume of 3,795,203. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $53.78. The firm's 50-day simple moving average is $49.76 and its 200 day simple moving average is $43.62. The firm has a market cap of $23.10 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 0.59 and a beta of 0.80. 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 announced its quarterly earnings data 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 firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast 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 share repurchase plan on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 8.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Citizens Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised Citizens Financial Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $48.50 to $52.00 in a report on Friday, August 1st. DA Davidson boosted their price objective on Citizens Financial Group from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group boosted their price objective on Citizens Financial Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Barclays raised their price target on 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. Finally, Cantor Fitzgerald began coverage on Citizens Financial Group in a research note on Wednesday, September 10th. They set an "overweight" rating and a $61.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.35.

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.