Headlands Technologies LLC Boosts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Headlands Technologies LLC raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 236.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,879 shares of the bank’s stock after purchasing an additional 1,320 shares during the quarter. Headlands Technologies LLC’s holdings in Citizens Financial Group were worth $77,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Great Valley Advisor Group Inc. lifted its holdings in shares of Citizens Financial Group by 0.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank’s stock valued at $1,740,000 after buying an additional 224 shares during the period. True Wealth Design LLC lifted its holdings in shares of Citizens Financial Group by 10.5% in the 4th quarter. True Wealth Design LLC now owns 2,890 shares of the bank’s stock valued at $126,000 after buying an additional 275 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Citizens Financial Group by 0.5% in the 1st quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank’s stock valued at $2,207,000 after buying an additional 289 shares during the period. Old Port Advisors lifted its holdings in shares of Citizens Financial Group by 0.9% in the 1st quarter. Old Port Advisors now owns 32,767 shares of the bank’s stock valued at $1,342,000 after buying an additional 296 shares during the period. Finally, Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Citizens Financial Group by 1.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 17,386 shares of the bank’s stock valued at $761,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

NYSE:CFG opened at $48.17 on Wednesday. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.98. The stock has a 50 day moving average of $45.60 and a two-hundred day moving average of $42.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The firm has a market cap of $20.78 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%. Citizens Financial Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. On average, analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.42 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.5%. Citizens Financial Group’s dividend payout ratio is 51.06%.

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

Wall Street Analysts Forecast Growth

CFG has been the subject of several analyst reports. Piper Sandler decreased their price objective 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. Keefe, Bruyette & Woods raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Wednesday, July 9th. Citigroup upped their price target on Citizens Financial Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, July 21st. UBS Group upped their price target on Citizens Financial Group from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Finally, Barclays upped their price target on Citizens Financial Group from $49.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average target price of $51.53.

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.