Sumitomo Mitsui Trust Group Inc. Purchases 54,189 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,069,813 shares of the bank's stock after purchasing an additional 54,189 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Citizens Financial Group worth $43,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Capital World Investors grew its stake in shares of Citizens Financial Group by 3.3% in the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock worth $1,570,989,000 after purchasing an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock worth $477,043,000 after purchasing an additional 124,860 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock worth $462,547,000 after buying an additional 2,298,040 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after acquiring an additional 1,672,204 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Citizens Financial Group by 6.4% during the 4th quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank's stock valued at $273,378,000 after acquiring an additional 374,850 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Up 2.1%

Shares of CFG stock traded up $0.95 during mid-day trading on Wednesday, hitting $47.05. The company's stock had a trading volume of 5,411,894 shares, compared to its average volume of 4,839,628. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. The business has a 50-day moving average price of $40.51 and a 200 day moving average price of $42.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 0.85. The stock has a market cap of $20.57 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.76 and a beta of 0.76.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group declared that its board has authorized a stock buyback program on Friday, June 13th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the bank to buy up to 8.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Analysts Set New Price Targets

Several research firms have weighed in on CFG. Raymond James Financial reaffirmed a "strong-buy" rating and set a $48.00 price objective (down from $58.00) on shares of Citizens Financial Group in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. TD Cowen assumed coverage on Citizens Financial Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $57.00 price target on the stock. Barclays cut their price target on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, Truist Financial lowered their price objective on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.22.

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.