128,649 Shares in Citizens Financial Group, Inc. $CFG Acquired by Lbp Am Sa

Lbp Am Sa bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 128,649 shares of the bank’s stock, valued at approximately $5,757,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFG. NewEdge Advisors LLC increased its holdings in Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after purchasing an additional 274 shares during the period. Park Avenue Securities LLC increased its holdings in Citizens Financial Group by 0.5% in the first quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank’s stock valued at $2,207,000 after purchasing an additional 289 shares during the period. Old Port Advisors increased its holdings in Citizens Financial Group by 0.9% in the first quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock valued at $1,342,000 after purchasing an additional 296 shares during the period. Grove Bank & Trust increased its holdings 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 purchasing an additional 334 shares during the period. Finally, CVA Family Office LLC increased its holdings in Citizens Financial Group by 26.4% in the first quarter. CVA Family Office LLC now owns 1,612 shares of the bank’s stock valued at $66,000 after purchasing an additional 337 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG opened at $52.76 on Thursday. 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 stock has a 50-day moving average of $50.52 and a 200-day moving average of $44.28. The company has a market cap of $22.76 billion, a PE ratio of 16.04, a P/E/G ratio of 0.58 and a beta of 0.79. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $54.50.

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

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. The ex-dividend date was Thursday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.06%.

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 shares. This repurchase authorization permits the bank to repurchase up to 8.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of recent research reports. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $53.00 to $71.00 in a report on Monday. Cantor Fitzgerald started coverage on Citizens Financial Group in a report on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price target for the company. Evercore ISI increased their price target on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company set a $57.00 price target on Citizens Financial Group in a report on Wednesday, July 2nd. Finally, Citigroup increased their price target on Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Buy” and a consensus target price of $53.95.

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.