Citizens Financial Group, Inc. (NYSE:CFG) Stock Holdings Trimmed by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 12.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 187,611 shares of the bank's stock after selling 27,372 shares during the quarter. Wealthfront Advisers LLC's holdings in Citizens Financial Group were worth $7,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Hager Investment Management Services LLC raised its holdings in shares of Citizens Financial Group by 90.6% in the 1st quarter. Hager Investment Management Services LLC now owns 10,320 shares of the bank's stock worth $423,000 after purchasing an additional 4,905 shares during the period. Signaturefd LLC raised its holdings in shares of Citizens Financial Group by 8.7% in the 1st quarter. Signaturefd LLC now owns 6,049 shares of the bank's stock worth $248,000 after purchasing an additional 486 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Citizens Financial Group by 3.8% in the 1st quarter. Bleakley Financial Group LLC now owns 11,853 shares of the bank's stock worth $486,000 after purchasing an additional 429 shares during the period. MQS Management LLC purchased a new position in shares of Citizens Financial Group in the 1st quarter worth about $470,000. Finally, CWM LLC raised its holdings in shares of Citizens Financial Group by 39.1% in the 1st quarter. CWM LLC now owns 140,290 shares of the bank's stock worth $5,748,000 after purchasing an additional 39,405 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG traded up $1.85 during midday trading on Thursday, reaching $48.82. 13,406,399 shares of the company traded hands, compared to its average volume of 4,845,147. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $49.38. The firm has a market capitalization of $21.34 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.80 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. The company has a fifty day moving average price of $42.67 and a 200 day moving average price of $42.36.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.84% and a net margin of 12.76%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group announced that its Board of Directors has authorized a stock repurchase plan on Friday, June 13th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the bank to buy up to 8.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on CFG. Cowen began coverage on Citizens Financial Group in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods upgraded Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 target price on the stock in a report on Wednesday, July 9th. Royal Bank Of Canada dropped their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. UBS Group raised their target price on Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, TD Cowen initiated coverage on Citizens Financial Group in a report on Thursday, May 15th. They set a "buy" rating and a $57.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.32.

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.