Sequoia Financial Advisors LLC increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,388 shares of the bank’s stock after acquiring an additional 8,946 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Citizens Financial Group were worth $4,091,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after buying an additional 554 shares during the last quarter. Woodline Partners LP raised its holdings in Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Citizens Financial Group by 93.4% in the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after acquiring an additional 4,739 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Citizens Financial Group by 5.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock valued at $2,934,000 after acquiring an additional 3,225 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Analysts Set New Price Targets
CFG has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Royal Bank Of Canada increased their price target on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group lifted their price target on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Citigroup boosted their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Robert W. Baird upped their price objective on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.80.
Citizens Financial Group Stock Up 1.2%
Shares of NYSE:CFG opened at $70.47 on Friday. The company’s fifty day moving average is $71.41 and its two-hundred day moving average is $65.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The stock has a market capitalization of $29.68 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.64 and a beta of 0.66.
Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.
Citizens Financial Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s payout ratio is presently 39.91%.
Insider Buying and Selling
In other news, CEO Bruce Van Saun sold 129,369 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is currently owned by insiders.
Citizens Financial Group Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through its primary subsidiary, Citizens Bank, the company provides retail and commercial banking services to individuals, businesses, institutions and government entities.
Its offerings include checking and savings accounts, consumer and residential lending, credit cards, business loans, commercial real estate financing, treasury management, investment banking, capital markets services and wealth management.
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