Everhart Financial Group Inc. Has $527,000 Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Everhart Financial Group Inc. increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 25.9% during the first quarter, HoldingsChannel reports. The fund owned 12,855 shares of the bank’s stock after buying an additional 2,641 shares during the period. Everhart Financial Group Inc.’s holdings in Citizens Financial Group were worth $527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $26,000. Colonial Trust Co SC grew its position in Citizens Financial Group by 673.0% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after purchasing an additional 774 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Citizens Financial Group in the 4th quarter valued at $47,000. Duncker Streett & Co. Inc. acquired a new stake in Citizens Financial Group in the 4th quarter valued at $51,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Citizens Financial Group in the 4th quarter valued at $66,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CFG. Stephens lowered their price target on shares of Citizens Financial Group from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Royal Bank of Canada lowered their price target on shares of Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Barclays lowered their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley lowered their price target on shares of Citizens Financial Group from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Finally, DA Davidson lowered their price target on shares of Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $47.89.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $40.27 on Friday. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.81 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $38.77 and a 200 day simple moving average of $42.44. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group’s payout ratio is 53.33%.

Citizens Financial Group announced that its Board of Directors has approved 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 reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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.