Sumitomo Mitsui DS Asset Management Company Ltd Purchases 8,851 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,870 shares of the bank's stock after acquiring an additional 8,851 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Citizens Financial Group were worth $2,248,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CFG. Ameriflex Group Inc. bought a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $26,000. Grove Bank & Trust lifted its position in 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. Colonial Trust Co SC lifted its position in Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after purchasing an additional 774 shares during the last quarter. NBT Bank N A NY bought a new stake in Citizens Financial Group during the first quarter valued at approximately $45,000. Finally, Citizens National Bank Trust Department lifted its position in Citizens Financial Group by 333.3% during the first quarter. Citizens National Bank Trust Department now owns 1,300 shares of the bank's stock valued at $53,000 after purchasing an additional 1,000 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Price Performance

CFG stock opened at $47.72 on Friday. The firm's 50-day moving average price is $41.14 and its two-hundred day moving average price is $42.14. 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 capitalization of $20.86 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.81 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) 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 company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.52%. Citizens Financial Group's dividend payout ratio is currently 53.33%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial dropped their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on shares of Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Morgan Stanley dropped their target price on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Finally, Cowen started coverage on shares of Citizens Financial Group in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.68.

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.

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