Mutual of America Capital Management LLC Reduces Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Mutual of America Capital Management LLC decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,837 shares of the bank’s stock after selling 1,959 shares during the period. Mutual of America Capital Management LLC’s holdings in Citizens Financial Group were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC lifted its stake in shares of Citizens Financial Group by 14.3% during the 1st quarter. Ballentine Partners LLC now owns 8,891 shares of the bank’s stock valued at $364,000 after buying an additional 1,114 shares in the last quarter. Stieven Capital Advisors L.P. increased its holdings in Citizens Financial Group by 10.5% in the 1st quarter. Stieven Capital Advisors L.P. now owns 429,980 shares of the bank’s stock valued at $17,616,000 after acquiring an additional 40,800 shares during the last quarter. Park Square Financial Group LLC increased its holdings in Citizens Financial Group by 287.0% in the 1st quarter. Park Square Financial Group LLC now owns 1,161 shares of the bank’s stock valued at $48,000 after acquiring an additional 861 shares during the last quarter. Round Rock Advisors LLC bought a new stake in Citizens Financial Group in the 1st quarter valued at $316,000. Finally, Allworth Financial LP increased its holdings in Citizens Financial Group by 15.9% in the 1st quarter. Allworth Financial LP now owns 3,002 shares of the bank’s stock valued at $112,000 after acquiring an additional 411 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CFG. DA Davidson boosted their target price on shares of Citizens Financial Group from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial cut their price target on shares of Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Wall Street Zen upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday. Royal Bank Of Canada cut 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 report on Thursday, April 17th. Finally, Stephens cut 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 report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.89.

Citizens Financial Group Trading Down 0.4%

Shares of Citizens Financial Group stock opened at $48.61 on Friday. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.83 and a beta of 0.76. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.68. The firm’s 50 day simple moving average is $43.05 and its two-hundred day simple moving average is $42.42. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data 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 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 prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

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

Citizens Financial Group Dividend Announcement

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

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.