Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Westpac Banking Corp

Westpac Banking Corp decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 48.7% during the first quarter, Holdings Channel.com reports. The firm owned 12,213 shares of the bank’s stock after selling 11,607 shares during the period. Westpac Banking Corp’s holdings in Citizens Financial Group were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth approximately $26,000. Grove Bank & Trust grew its stake in shares of Citizens Financial Group by 97.1% during the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock worth $28,000 after purchasing an additional 334 shares during the period. Colonial Trust Co SC grew its stake in Citizens Financial Group by 673.0% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after acquiring an additional 774 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in Citizens Financial Group by 143.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after acquiring an additional 634 shares during the period. Finally, NBT Bank N A NY acquired a new stake in Citizens Financial Group in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 1.0%

Shares of CFG opened at $48.62 on Thursday. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.98. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average is $45.77 and its two-hundred day moving average is $42.74. The stock has a market cap of $20.97 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.53 and a beta of 0.78.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

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

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, July 31st. Citizens Financial Group’s payout ratio is currently 51.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CFG shares. Citigroup lifted their price target on shares of Citizens Financial Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, July 21st. UBS Group lifted their price target on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, May 30th. DA Davidson lifted their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, Jefferies Financial Group started coverage on shares of Citizens Financial Group in a research note on Wednesday, May 21st. They issued a “buy” rating and a $50.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.53.

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.