Allspring Global Investments Holdings LLC Grows Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Allspring Global Investments Holdings LLC grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,640 shares of the bank’s stock after purchasing an additional 1,110 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Citizens Financial Group worth $14,314,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Citizens Financial Group by 17.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,414 shares of the bank’s stock worth $1,949,000 after buying an additional 7,302 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Citizens Financial Group by 39.9% during the first quarter. Achmea Investment Management B.V. now owns 298,634 shares of the bank’s stock valued at $12,235,000 after buying an additional 85,245 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Citizens Financial Group by 425.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank’s stock worth $1,069,000 after acquiring an additional 21,138 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Citizens Financial Group by 8.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 24,714 shares of the bank’s stock worth $1,013,000 after buying an additional 1,838 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Citizens Financial Group by 370.5% during the first quarter. Golden State Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $88,000 after acquiring an additional 1,693 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 2.1%

Shares of CFG stock opened at $47.05 on Thursday. The firm’s 50 day moving average price is $40.72 and its two-hundred day moving average price is $42.11. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25. The stock has a market cap of $20.57 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 0.78 and a beta of 0.76.

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 analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 12.76% and a return on equity of 6.84%. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

Citizens Financial Group announced that its Board of Directors has approved a stock 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CFG shares. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a research report on Wednesday. Barclays cut their price target on Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Piper Sandler dropped their target price on Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group lowered their target price on shares of Citizens Financial Group from $55.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Royal Bank Of Canada reduced their target price on 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. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.68.

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.