Amalgamated Bank Reduces Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Amalgamated Bank trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFGGet Rating) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,268 shares of the bank’s stock after selling 5,288 shares during the period. Amalgamated Bank’s holdings in Citizens Financial Group were worth $4,908,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. J.W. Cole Advisors Inc. purchased a new position in shares of Citizens Financial Group during the 1st quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Citizens Financial Group by 37.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,981 shares of the bank’s stock worth $2,312,000 after purchasing an additional 13,817 shares in the last quarter. Midwest Wealth Management Inc. increased its stake in shares of Citizens Financial Group by 4.5% during the 1st quarter. Midwest Wealth Management Inc. now owns 47,036 shares of the bank’s stock worth $2,132,000 after purchasing an additional 2,026 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Citizens Financial Group by 1,552.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,066 shares of the bank’s stock worth $93,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Citizens Financial Group by 245.0% during the 1st quarter. Advisory Services Network LLC now owns 18,666 shares of the bank’s stock worth $846,000 after purchasing an additional 13,256 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CFG shares. Jefferies Financial Group decreased their target price on shares of Citizens Financial Group from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, July 11th. The Goldman Sachs Group decreased their target price on shares of Citizens Financial Group from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Wolfe Research decreased their target price on shares of Citizens Financial Group from $48.00 to $33.00 and set an “underperform” rating on the stock in a research report on Thursday, May 26th. Piper Sandler decreased their target price on shares of Citizens Financial Group to $44.00 in a research report on Friday, July 22nd. Finally, Barclays decreased their target price on shares of Citizens Financial Group from $62.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $48.44.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $36.81 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 9.35 and a beta of 1.40. The firm’s fifty day simple moving average is $37.51 and its 200 day simple moving average is $39.83. Citizens Financial Group, Inc. has a twelve month low of $34.35 and a twelve month high of $57.00.

Citizens Financial Group (NYSE:CFGGet Rating) last posted its earnings results on Tuesday, July 19th. The bank reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.12. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. Citizens Financial Group had a net margin of 25.04% and a return on equity of 10.26%. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 4.37 earnings per share for the current fiscal year.

Citizens Financial Group announced that its board has initiated a stock buyback program on Monday, June 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to buy up to 5.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Tuesday, August 2nd were issued a dividend of $0.42 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, August 1st. This represents a $1.68 annualized dividend and a dividend yield of 4.56%. Citizens Financial Group’s payout ratio is presently 42.53%.

Citizens Financial Group Profile

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Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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