EFG International AG Invests $1.84 Million in Citizens Financial Group, Inc. $CFG

EFG International AG acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,252 shares of the bank’s stock, valued at approximately $1,840,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CFG. Parallel Advisors LLC increased its stake in Citizens Financial Group by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after acquiring an additional 172 shares during the last quarter. Inscription Capital LLC increased its position in shares of Citizens Financial Group by 1.6% during the 4th quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock valued at $637,000 after purchasing an additional 175 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Citizens Financial Group by 0.9% during the 4th quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after buying an additional 175 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of Citizens Financial Group by 3.7% during the 4th quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock valued at $308,000 after buying an additional 187 shares in the last quarter. Finally, Summit Financial LLC lifted its position in Citizens Financial Group by 2.5% in the 4th quarter. Summit Financial LLC now owns 7,719 shares of the bank’s stock worth $451,000 after buying an additional 187 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $70.48 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market cap of $29.68 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.53 and a beta of 0.67. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The firm has a 50-day moving average of $71.34 and a 200-day moving average of $65.65.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.Citizens Financial Group’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Sell-side analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. Citizens Financial Group’s payout ratio is 39.91%.

Insider Activity

In related news, CEO Saun Bruce Van 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 owned 1,140,763 shares in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Argus set a $80.00 price objective on shares of Citizens Financial Group in a report on Wednesday, July 29th. Truist Financial upped their price objective on shares of Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Jefferies Financial Group increased their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, Stephens lifted their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.25.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.