Signaturefd LLC Has $428,000 Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Posted by on Apr 15th, 2023

Signaturefd LLC lessened its position in Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,877 shares of the bank’s stock after selling 699 shares during the quarter. Signaturefd LLC’s holdings in Citizens Financial Group were worth $428,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Salem Investment Counselors Inc. raised its position in Citizens Financial Group by 1,656.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 878 shares of the bank’s stock valued at $30,000 after buying an additional 828 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $36,000. Lindbrook Capital LLC increased its position in shares of Citizens Financial Group by 63.0% during the 4th quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $39,000 after purchasing an additional 382 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $40,000. Finally, Coastal Investment Advisors Inc. acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

Citizens Financial Group Stock Performance

CFG opened at $29.10 on Friday. The business has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $38.34. The company has a market capitalization of $14.09 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 2.34 and a beta of 1.32. Citizens Financial Group, Inc. has a 1 year low of $28.27 and a 1 year high of $45.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.92 and a quick ratio of 0.92.

Citizens Financial Group (NYSE:CFG – Get Rating) last released its earnings results on Tuesday, January 17th. The bank reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.22 billion. Citizens Financial Group had a net margin of 22.86% and a return on equity of 11.24%. Research analysts expect that Citizens Financial Group, Inc. will post 4.72 EPS for the current year.

Citizens Financial Group declared that its board has approved a share repurchase program on Friday, February 17th that allows the company to buyback $1.15 billion in shares. This buyback authorization allows the bank to buy up to 5.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Kevin Cummings sold 90,689 shares of the company’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $43.00, for a total transaction of $3,899,627.00. Following the completion of the sale, the director now directly owns 455,789 shares in the company, valued at approximately $19,598,927. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CFG. JPMorgan Chase & Co. lowered their price target on Citizens Financial Group from $45.50 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, April 10th. Citigroup boosted their price target on Citizens Financial Group from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. The Goldman Sachs Group reduced their target price on Citizens Financial Group from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, March 30th. Barclays reduced their target price on Citizens Financial Group from $57.00 to $44.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, StockNews.com began coverage on Citizens Financial Group in a research note on Thursday, March 16th. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $46.24.

About Citizens Financial Group

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Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

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

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