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

Key Points

• EFG International AG purchased 26,252 Citizens Financial Group shares worth approximately $1.84 million in the second quarter. Institutional investors collectively own 94.9% of CFG’s outstanding stock.
• Citizens Financial Group exceeded quarterly expectations, reporting $1.30 earnings per share versus the $1.25 consensus estimate and $2.28 billion in revenue, up 12.1% year over year. The bank also maintains a quarterly dividend of $0.46 per share, yielding about 2.6%.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $79.25 versus the stock’s reported $70.48 price. However, CEO Saun Bruce Van sold 129,369 shares valued at roughly $9.3 million.

EFG International AG purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,252 shares of the bank's stock, valued at approximately $1,840,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group during the first quarter valued at about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group during the fourth quarter worth about $29,000. Activest Wealth Management raised its position in Citizens Financial Group by 5,600.0% in the fourth quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after acquiring an additional 504 shares during the period. Finally, Elevation Wealth Partners LLC raised its position in Citizens Financial Group by 319.8% in the second 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 period. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Up 0.9%

Shares of NYSE:CFG opened at $70.48 on Thursday. The firm has a fifty day moving average price of $71.34 and a two-hundred day moving average price of $65.65. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business's quarterly revenue was up 12.1% on a year-over-year basis. Analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced 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. This represents a $1.84 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group's payout ratio is presently 39.91%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CFG. Stephens raised their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, July 17th. Barclays boosted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. UBS Group increased their price target on Citizens Financial Group from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Evercore reiterated an "outperform" rating and set a $80.00 target price on shares of Citizens Financial Group in a research report on Monday, July 6th. Sixteen equities 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.25.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the company's stock in a transaction dated Friday, July 24th. The stock was 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 in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by corporate 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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