Asio Capital LLC Has $4.93 Million Stock Position in Citizens Financial Group, Inc. $CFG

Asio Capital LLC boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 6.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 110,211 shares of the bank’s stock after acquiring an additional 6,332 shares during the period. Asio Capital LLC’s holdings in Citizens Financial Group were worth $4,932,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC lifted its position in Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after acquiring an additional 274 shares during the last quarter. Park Avenue Securities LLC lifted its position in Citizens Financial Group by 0.5% during the first quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank’s stock worth $2,207,000 after acquiring an additional 289 shares during the last quarter. Old Port Advisors lifted its position in Citizens Financial Group by 0.9% during the first quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock worth $1,342,000 after acquiring an additional 296 shares during the last quarter. Grove Bank & Trust lifted its position in Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock worth $28,000 after acquiring an additional 334 shares during the last quarter. Finally, CVA Family Office LLC lifted its position in Citizens Financial Group by 26.4% during the first quarter. CVA Family Office LLC now owns 1,612 shares of the bank’s stock worth $66,000 after acquiring an additional 337 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Citizens Financial Group in a research report on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price objective for the company. Citigroup raised their price objective on shares of Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wall Street Zen upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Evercore ISI raised their price objective on shares of Citizens Financial Group from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Finally, 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 report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $53.75.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $53.63 on Tuesday. The company’s 50 day simple moving average is $50.39 and its 200 day simple moving average is $44.16. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $54.50.

Citizens Financial Group (NYSE:CFG) last announced 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. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is 51.06%.

Citizens Financial Group declared that its Board of Directors has initiated a share repurchase plan on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically a sign 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.