Signaturefd LLC Has $260,000 Position in Citizens Financial Group, Inc. $CFG

Signaturefd LLC cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,820 shares of the bank’s stock after selling 229 shares during the quarter. Signaturefd LLC’s holdings in Citizens Financial Group were worth $260,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Investors Research Corp increased its holdings in shares of Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after acquiring an additional 500 shares during the last quarter. Grove Bank & Trust grew its holdings in Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock valued at $28,000 after buying an additional 334 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Citizens Financial Group by 143.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after buying an additional 634 shares in the last quarter. NBT Bank N A NY acquired a new position in Citizens Financial Group in the 1st quarter valued at $45,000. Finally, Wayfinding Financial LLC acquired a new position in Citizens Financial Group in the 1st quarter valued at $46,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $53.00 on Friday. The stock has a fifty day moving average price of $50.60 and a 200-day moving average price of $44.37. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $54.50.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group announced that its Board of Directors has authorized a stock repurchase program on Friday, June 13th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the bank to purchase up to 8.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Citizens Financial Group Dividend Announcement

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

Analysts Set New Price Targets

CFG has been the topic of a number of research reports. Barclays upped their price objective on Citizens Financial Group from $49.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Raymond James Financial upped their price objective on Citizens Financial Group from $48.00 to $57.00 and gave the company a “strong-buy” rating in a report on Friday, July 18th. Cantor Fitzgerald initiated coverage on Citizens Financial Group in a report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price objective on the stock. JPMorgan Chase & Co. raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $48.50 to $52.00 in a report on Friday, August 1st. Finally, Evercore ISI upped their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $53.95.

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.