Janney Montgomery Scott LLC Acquires 2,675 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Janney Montgomery Scott LLC raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 43,456 shares of the bank’s stock after purchasing an additional 2,675 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Citizens Financial Group were worth $1,919,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CFG. Ledyard National Bank increased its position in shares of Citizens Financial Group by 2.0% in the 1st quarter. Ledyard National Bank now owns 102,413 shares of the bank’s stock valued at $4,521,000 after buying an additional 1,968 shares in the last quarter. Clarius Group LLC bought a new stake in shares of Citizens Financial Group in the 1st quarter valued at $234,000. Meritage Portfolio Management bought a new stake in shares of Citizens Financial Group in the 1st quarter valued at $6,023,000. First American Trust FSB increased its position in shares of Citizens Financial Group by 0.9% in the 1st quarter. First American Trust FSB now owns 98,735 shares of the bank’s stock valued at $4,360,000 after buying an additional 838 shares in the last quarter. Finally, Usca Ria LLC increased its position in shares of Citizens Financial Group by 12.4% in the 1st quarter. Usca Ria LLC now owns 40,343 shares of the bank’s stock valued at $1,781,000 after buying an additional 4,440 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

CFG stock opened at $48.00 on Thursday. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 21.62 and a beta of 1.87. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a 12-month low of $18.20 and a 12-month high of $50.35. The company’s fifty day simple moving average is $45.58 and its 200 day simple moving average is $39.38.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 15th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.40. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Citizens Financial Group had a net margin of 13.04% and a return on equity of 5.30%. Citizens Financial Group’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts expect that Citizens Financial Group, Inc. will post 2.3 earnings per share for the current year.

Citizens Financial Group announced that its board has authorized a stock repurchase plan on Wednesday, January 20th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 13th. Shareholders of record on Thursday, April 29th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, April 28th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 40.63%.

CFG has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Citizens Financial Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, May 3rd. Jefferies Financial Group increased their price target on shares of Citizens Financial Group from $42.00 to $47.00 and gave the company a “hold” rating in a report on Friday, April 9th. DA Davidson increased their price target on shares of Citizens Financial Group from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 25th. Argus raised their target price on shares of Citizens Financial Group from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, April 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Citizens Financial Group from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. Citizens Financial Group has an average rating of “Buy” and an average price target of $47.27.

Citizens Financial Group 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.

Recommended Story: Stochastic Momentum Index (SMI)

Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG).

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

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.