Ategra Capital Management LLC Makes New $17.42 Million Investment in Citizens Financial Group, Inc. $CFG

Ategra Capital Management LLC bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 248,665 shares of the bank's stock, valued at approximately $17,424,000. Citizens Financial Group accounts for about 7.8% of Ategra Capital Management LLC's holdings, making the stock its 3rd biggest position. Ategra Capital Management LLC owned 0.06% of Citizens Financial Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its stake in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock worth $30,000 after buying an additional 323 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Citizens Financial Group during the 1st quarter valued at about $27,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at approximately $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Citizens Financial Group during the 4th quarter worth approximately $29,000. Institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CFG. Weiss Ratings reissued a "buy (b)" rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Robert W. Baird lifted their price target 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. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Evercore reiterated an "outperform" rating and set a $80.00 price objective on shares of Citizens Financial Group in a report on Monday, July 6th. Finally, Argus set a $80.00 target price on Citizens Financial Group in a research note on Wednesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.25.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $70.23 on Tuesday. 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 cap of $29.58 billion, a P/E ratio of 15.23, a PEG ratio of 0.53 and a beta of 0.67. The stock has a 50 day simple moving average of $71.22 and a 200 day simple moving average of $65.59. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. Research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company 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 of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group's dividend payout ratio is currently 39.91%.

Insider Activity

In related news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer directly owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.67% of the company's stock.

Citizens Financial Group Company 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.

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