Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by Gradient Investments LLC

Gradient Investments LLC lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 352.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,581 shares of the bank’s stock after buying an additional 2,011 shares during the period. Gradient Investments LLC’s holdings in Citizens Financial Group were worth $93,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CFG. International Assets Investment Management LLC bought a new position in shares of Citizens Financial Group in the fourth quarter valued at $3,713,000. Louisiana State Employees Retirement System acquired a new stake in Citizens Financial Group during the 4th quarter valued at $935,000. Vontobel Holding Ltd. acquired a new stake in Citizens Financial Group during the 4th quarter valued at $1,087,000. SVB Wealth LLC raised its stake in Citizens Financial Group by 14.1% during the 4th quarter. SVB Wealth LLC now owns 21,548 shares of the bank’s stock valued at $714,000 after purchasing an additional 2,662 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Citizens Financial Group by 3.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 42,457 shares of the bank’s stock valued at $1,407,000 after purchasing an additional 1,340 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Price Performance

NYSE:CFG traded up $0.64 during mid-day trading on Friday, hitting $41.23. The company’s stock had a trading volume of 3,917,597 shares, compared to its average volume of 5,493,871. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.46 and a beta of 1.10. The stock has a fifty day moving average of $38.08 and a 200-day moving average of $35.38.

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

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Analyst Ratings Changes

CFG has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group upped their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Raymond James initiated coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They issued a “market perform” rating on the stock. DA Davidson upped their price target on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.20.

Citizens Financial Group Company 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.