Farther Finance Advisors LLC Acquires 3,018 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Farther Finance Advisors LLC grew its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 66.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,532 shares of the bank’s stock after acquiring an additional 3,018 shares during the quarter. Farther Finance Advisors LLC’s holdings in Citizens Financial Group were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CFG. Ameriflex Group Inc. bought a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $26,000. Colonial Trust Co SC boosted its stake 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 acquiring an additional 774 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $47,000. Duncker Streett & Co. Inc. purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $51,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $66,000. Institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Cowen initiated coverage on Citizens Financial Group in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Barclays dropped their price objective on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Citigroup cut their target price on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Piper Sandler reduced their price target on shares of Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.89.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $40.42 on Wednesday. The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.70 and a beta of 0.75. 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 business has a 50-day moving average of $38.96 and a 200 day moving average of $42.29. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 12.76% and a return on equity of 6.84%. As a group, sell-side analysts forecast 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 initiated a stock repurchase plan on Friday, June 13th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the bank to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.16%. Citizens Financial Group’s dividend payout ratio (DPR) is 53.33%.

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.