Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 17.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 48,414 shares of the bank’s stock after acquiring an additional 7,302 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Citizens Financial Group were worth $1,949,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in Citizens Financial Group in the 4th quarter valued at $26,000. Grove Bank & Trust increased its stake 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 during the period. Colonial Trust Co SC increased its stake in Citizens Financial Group by 673.0% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after buying an additional 774 shares during the period. NBT Bank N A NY acquired a new position in Citizens Financial Group in the 1st quarter valued at $45,000. Finally, SBI Securities Co. Ltd. acquired a new position in Citizens Financial Group in the 4th quarter valued at $66,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CFG. Piper Sandler dropped their price objective on shares of Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Barclays decreased their target price on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Raymond James Financial restated a “strong-buy” rating and set a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a research report on Thursday, April 17th. UBS Group boosted their price objective on shares of Citizens Financial Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Finally, TD Cowen started coverage on shares of Citizens Financial Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $57.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.68.

Citizens Financial Group Stock Up 1.5%

CFG opened at $47.72 on Friday. The firm has a 50 day moving average price of $40.93 and a 200 day moving average price of $42.12. The company has a market cap of $20.86 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.76. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last posted its 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 firm 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 12.76% and a return on equity of 6.84%. Sell-side analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 53.33%.

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

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.