Hennessy Advisors Inc. Has $358,000 Holdings in Citizens Financial Group, Inc. $CFG

Hennessy Advisors Inc. lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 46.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,000 shares of the bank’s stock after selling 7,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Citizens Financial Group were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC bought a new position in shares of Citizens Financial Group in the 1st quarter valued at about $208,000. Park Avenue Securities LLC boosted its stake in shares of Citizens Financial Group by 0.5% in the 1st 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 last quarter. Farther Finance Advisors LLC boosted its stake in shares of Citizens Financial Group by 66.9% in the 1st quarter. Farther Finance Advisors LLC now owns 7,532 shares of the bank’s stock valued at $306,000 after purchasing an additional 3,018 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Citizens Financial Group by 64.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 42,367 shares of the bank’s stock valued at $1,736,000 after purchasing an additional 16,670 shares during the last quarter. Finally, Tounjian Advisory Partners LLC bought a new position in shares of Citizens Financial Group in the 1st quarter valued at about $1,624,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 1.7%

Citizens Financial Group stock opened at $53.86 on Friday. The company’s 50 day simple moving average is $50.68 and its 200 day simple moving average is $44.48. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $54.50. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.59 and a beta of 0.79. 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 (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating 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 analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The business’s revenue 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 year.

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

Citizens Financial Group Announces Dividend

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

Wall Street Analysts Forecast Growth

CFG has been the topic of several recent research reports. Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a research note on Wednesday, July 2nd. Citigroup raised their target price on shares of Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Evercore ISI raised their target price on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $48.50 to $52.00 in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group currently 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.