Citizens Financial Group, Inc. $CFG Stock Position Lifted by Shell Asset Management Co.

Shell Asset Management Co. lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 117.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 53,137 shares of the bank’s stock after purchasing an additional 28,689 shares during the quarter. Shell Asset Management Co.’s holdings in Citizens Financial Group were worth $2,378,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Heartland Bank & Trust Co bought a new stake in shares of Citizens Financial Group during the 1st quarter worth about $398,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Citizens Financial Group by 19.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank’s stock worth $2,248,000 after buying an additional 8,851 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Citizens Financial Group by 425.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank’s stock worth $1,069,000 after buying an additional 21,138 shares in the last quarter. World Investment Advisors bought a new stake in shares of Citizens Financial Group during the 1st quarter worth about $410,000. Finally, OneDigital Investment Advisors LLC raised its position in shares of Citizens Financial Group by 37.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank’s stock worth $292,000 after buying an additional 1,957 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 2.1%

Shares of Citizens Financial Group stock opened at $52.00 on Thursday. The stock’s fifty day moving average is $50.93 and its 200-day moving average is $44.70. The firm has a market capitalization of $22.43 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $55.24.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.Citizens Financial Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities analysts anticipate 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 share repurchase plan on Friday, June 13th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the bank to buy up to 8.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group’s payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company set a $57.00 price objective on Citizens Financial Group in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $48.50 to $52.00 in a research note on Friday, August 1st. Truist Financial boosted their price objective on Citizens Financial Group from $52.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Barclays boosted their price objective on Citizens Financial Group from $49.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Finally, Citigroup boosted their price objective on Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.40.

About Citizens Financial Group

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.