Dimensional Fund Advisors LP boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,639,638 shares of the bank’s stock after acquiring an additional 88,685 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Citizens Financial Group were worth $130,146,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Citizens Financial Group by 2.2% during the fourth quarter. Bessemer Group Inc. now owns 16,059 shares of the bank’s stock worth $574,000 after purchasing an additional 339 shares during the period. Boston Private Wealth LLC increased its stake in shares of Citizens Financial Group by 2.9% during the fourth quarter. Boston Private Wealth LLC now owns 12,178 shares of the bank’s stock worth $435,000 after acquiring an additional 342 shares during the period. Liberty One Investment Management LLC raised its holdings in Citizens Financial Group by 23.8% during the fourth quarter. Liberty One Investment Management LLC now owns 2,277 shares of the bank’s stock worth $81,000 after purchasing an additional 438 shares in the last quarter. Trust Investment Advisors lifted its position in Citizens Financial Group by 2.2% in the fourth quarter. Trust Investment Advisors now owns 24,415 shares of the bank’s stock valued at $873,000 after purchasing an additional 529 shares during the period. Finally, Citizens Financial Group Inc RI boosted its holdings in Citizens Financial Group by 0.9% in the 4th quarter. Citizens Financial Group Inc RI now owns 64,902 shares of the bank’s stock valued at $2,321,000 after purchasing an additional 577 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.
A number of equities research analysts have commented on CFG shares. Royal Bank of Canada raised their target price on Citizens Financial Group from $29.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, January 21st. They noted that the move was a valuation call. Argus raised their price objective on shares of Citizens Financial Group from $34.00 to $47.00 in a research note on Thursday, January 21st. Barclays increased their target price on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Citizens Financial Group from a “strong-buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research report on Tuesday, March 9th. Finally, Morgan Stanley upped their price target on Citizens Financial Group from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $43.63.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Tuesday, January 19th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. Citizens Financial Group had a net margin of 13.04% and a return on equity of 5.30%. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 2.3 earnings per share for the current year.
Citizens Financial Group announced that its board has initiated a stock buyback program on Wednesday, January 20th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 17th. Investors of record on Wednesday, February 3rd were paid a $0.39 dividend. The ex-dividend date was Tuesday, February 2nd. This represents a $1.56 annualized dividend and a yield of 3.47%. Citizens Financial Group’s payout ratio is currently 40.63%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
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