Proficio Capital Partners LLC Purchases Shares of 7,513 Citizens Financial Group, Inc. $CFG

Proficio Capital Partners LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 7,513 shares of the bank’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC raised its stake in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after acquiring an additional 323 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Citizens Financial Group during the 4th quarter valued at about $26,000. Cedar Mountain Advisors LLC purchased a new stake in Citizens Financial Group during the 1st quarter valued at about $27,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Citizens Financial Group in the second quarter worth about $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth about $29,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Stock Up 2.3%

Shares of NYSE CFG opened at $69.74 on Thursday. Citizens Financial Group, Inc. has a 12-month low of $47.96 and a 12-month high of $75.33. The stock has a market cap of $29.37 billion, a PE ratio of 15.13, a P/E/G ratio of 0.62 and a beta of 0.66. 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 company has a 50-day moving average of $71.46 and a 200 day moving average of $65.73.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 39.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. UBS Group boosted their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Evercore reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Citizens Financial Group in a report on Monday, July 6th. Truist Financial upped their price objective on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, Stephens raised their target price on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $79.25.

Citizens Financial Group Profile

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.