UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 204,402 Shares of Citizens Financial Group, Inc. $CFG

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,583,034 shares of the bank’s stock after acquiring an additional 204,402 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC’s holdings in Citizens Financial Group were worth $146,797,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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 raised its position in shares of Citizens Financial Group by 97.1% in 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 period. Cary Street Partners Investment Advisory LLC raised its position in shares of Citizens Financial Group by 143.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after purchasing an additional 634 shares during the period. NBT Bank N A NY bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $45,000. Finally, Wayfinding Financial LLC bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $46,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.1%

CFG opened at $51.82 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $52.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84. The firm’s fifty day moving average price is $49.27 and its two-hundred day moving average price is $43.36. The company has a market capitalization of $22.35 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.57 and a beta of 0.80.

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

Citizens Financial Group announced that its Board of Directors has approved a stock buyback plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group’s payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CFG. Cantor Fitzgerald began coverage on shares of Citizens Financial Group in a research report on Wednesday. They issued an “overweight” rating and a $61.00 price target on the stock. Keefe, Bruyette & Woods raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Wednesday, July 9th. Barclays lifted their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.00.

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.