Citizens Financial Group, Inc. $CFG Shares Sold by 111 Capital

111 Capital cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 74.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,188 shares of the bank’s stock after selling 18,140 shares during the quarter. 111 Capital’s holdings in Citizens Financial Group were worth $277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Grove Bank & Trust lifted its stake in 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 buying an additional 334 shares during the last quarter. Investors Research Corp lifted its position in Citizens Financial Group by 344.8% in the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Trust Co. of Vermont boosted its stake in Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after purchasing an additional 410 shares during the period. Cary Street Partners Investment Advisory LLC grew its position 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 worth $44,000 after purchasing an additional 634 shares during the last quarter. Finally, NBT Bank N A NY acquired a new stake in shares of Citizens Financial Group in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $54.02 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $50.78 and its two-hundred day moving average price is $44.59. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $55.24. The stock has a market cap of $23.30 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 0.59 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted $0.82 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. Citizens Financial Group’s dividend payout ratio is currently 51.06%.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CFG shares. Wells Fargo & Company set a $57.00 price objective on Citizens Financial Group in a report on Wednesday, July 2nd. Cantor Fitzgerald assumed coverage on Citizens Financial Group in a report on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price target on the stock. DA Davidson upped their price objective on shares of Citizens Financial Group from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Raymond James Financial raised their target price on shares of Citizens Financial Group from $48.00 to $57.00 and gave the company a “strong-buy” rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $48.50 to $52.00 in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.70.

Citizens Financial Group Company 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.