Buckland Partners Management Co LLC Acquires Shares of 72,000 Citizens Financial Group, Inc. $CFG

Key Points

• Buckland Partners Management acquired 72,000 shares of Citizens Financial Group worth approximately $5.05 million, making CFG its seventh-largest portfolio holding at 2.5%.
• Institutional investors and hedge funds own 94.9% of CFG, with several firms—including BlackRock and Deutsche Bank—also initiating positions during the second quarter.
• Citizens Financial reported quarterly EPS of $1.30, beating estimates by $0.05, while revenue rose 12.1% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $79.05, and the bank pays a $0.46 quarterly dividend.

Buckland Partners Management Co LLC acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 72,000 shares of the bank's stock, valued at approximately $5,045,000. Citizens Financial Group makes up about 2.5% of Buckland Partners Management Co LLC's investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Citizens Financial Group during the 2nd quarter worth about $3,415,046,000. Pallas Capital Advisors LLC acquired a new position in shares of Citizens Financial Group during the second quarter worth approximately $1,391,000. Deutsche Bank AG acquired a new position in shares of Citizens Financial Group during the second quarter worth approximately $174,108,000. Perigon Wealth Management LLC bought a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $568,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Citizens Financial Group in the second quarter valued at approximately $1,548,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.5%

Shares of NYSE CFG opened at $74.39 on Tuesday. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.57 and a beta of 0.67. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company's fifty day moving average is $70.77 and its 200-day moving average is $65.36.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. The business 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%.The firm's revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities research analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.5%. Citizens Financial Group's dividend payout ratio (DPR) is currently 39.91%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird upped their price objective on Citizens Financial Group from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Evercore restated an "outperform" rating and set a $80.00 target price on shares of Citizens Financial Group in a research report on Monday, July 6th. Jefferies Financial Group raised their price target on Citizens Financial Group from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Citizens Financial Group from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $79.05.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction dated 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 in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by company insiders.

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.

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