Citizens Financial Group Inc. RI Acquires 2,536 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Citizens Financial Group Inc. RI increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,988 shares of the bank’s stock after acquiring an additional 2,536 shares during the period. Citizens Financial Group Inc. RI owned approximately 0.11% of Citizens Financial Group worth $17,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFG. Innealta Capital LLC purchased a new position in shares of Citizens Financial Group during the second quarter valued at approximately $25,000. Versant Capital Management Inc boosted its holdings in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after acquiring an additional 678 shares in the last quarter. Private Ocean LLC boosted its holdings in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP grew its stake in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Citizens Financial Group during the second quarter valued at $48,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 1.0 %

Shares of CFG stock opened at $40.09 on Monday. The company’s fifty day simple moving average is $40.71 and its two-hundred day simple moving average is $36.85. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96. The stock has a market cap of $17.97 billion, a P/E ratio of 14.53, a PEG ratio of 1.42 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Citizens Financial Group’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CFG. Raymond James initiated coverage on Citizens Financial Group in a research report on Thursday, July 11th. They issued a “market perform” rating on the stock. Piper Sandler upped their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI boosted their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. The Goldman Sachs Group lifted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, UBS Group raised their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.20.

Citizens Financial Group 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.