11,988 Shares in Citizens Financial Group, Inc. (NYSE:CFG) Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,988 shares of the bank’s stock, valued at approximately $491,000.

Several other hedge funds and other institutional investors have also modified their holdings of CFG. Norges Bank acquired a new position in shares of Citizens Financial Group during the fourth quarter valued at $243,431,000. Wellington Management Group LLP increased its holdings in shares of Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after acquiring an additional 2,298,040 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Citizens Financial Group by 20.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock worth $423,733,000 after acquiring an additional 1,672,204 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Citizens Financial Group by 32.2% in the fourth quarter. AQR Capital Management LLC now owns 6,186,364 shares of the bank’s stock worth $270,715,000 after acquiring an additional 1,507,536 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Citizens Financial Group during the fourth quarter worth about $51,486,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 0.4%

Shares of Citizens Financial Group stock traded down $0.21 on Friday, hitting $48.61. 9,470,067 shares of the company’s stock traded hands, compared to its average volume of 4,846,543. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $49.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. The company has a fifty day moving average of $43.05 and a two-hundred day moving average of $42.43. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76.

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 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 the consensus estimate of $2.01 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 13th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the bank to purchase up to 8.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Thursday, July 31st. Citizens Financial Group’s dividend payout ratio is presently 51.06%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays increased their price target on Citizens Financial Group from $49.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday. Piper Sandler reduced their price target on Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Cowen assumed coverage on Citizens Financial Group in a research report on Wednesday, May 14th. They set a “buy” rating for the company. JPMorgan Chase & Co. reduced their price target on Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, UBS Group raised their price objective on Citizens Financial Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.89.

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.