Simon Quick Advisors LLC Boosts Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Simon Quick Advisors LLC grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 74.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,953 shares of the bank’s stock after acquiring an additional 3,835 shares during the quarter. Simon Quick Advisors LLC’s holdings in Citizens Financial Group were worth $367,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CFG. Ameriflex Group Inc. purchased a new position in shares of Citizens Financial Group during the fourth quarter worth approximately $26,000. Colonial Trust Co SC grew its holdings in shares of Citizens Financial Group by 673.0% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock worth $39,000 after purchasing an additional 774 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Citizens Financial Group in the fourth quarter worth approximately $47,000. Duncker Streett & Co. Inc. bought a new position in shares of Citizens Financial Group in the fourth quarter worth approximately $51,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Citizens Financial Group in the fourth quarter worth approximately $66,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CFG shares. DA Davidson cut their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Stephens cut their target price on shares of Citizens Financial Group from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods cut their target price on shares of 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. Piper Sandler cut their target price on shares of Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Argus set a $45.00 target price on shares of Citizens Financial Group in a report on Thursday, April 24th. 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. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $47.89.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $40.27 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $17.60 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.81 and a beta of 0.75. The business has a fifty day simple moving average of $38.77 and a two-hundred day simple moving average of $42.40. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 53.33%.

Citizens Financial Group declared that its Board of Directors has initiated a share buyback program on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 8.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Citizens Financial Group 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.