Focus Partners Advisor Solutions LLC Takes $1.38 Million Position in Citizens Financial Group, Inc. $CFG

Key Points

• Focus Partners Advisor Solutions purchased 19,746 shares of Citizens Financial Group worth approximately $1.38 million during the second quarter. Institutional investors collectively own 94.9% of the bank’s outstanding shares.
• Citizens Financial Group exceeded quarterly expectations, reporting $1.30 in EPS and $2.28 billion in revenue, with revenue up 12.1% year over year. The company also pays a quarterly dividend of $0.46, producing a 2.5% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $79.05, while the stock recently traded near its 52-week high at $74.72.

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,746 shares of the bank's stock, valued at approximately $1,384,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Elevation Wealth Partners LLC raised its holdings in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock valued at $30,000 after acquiring an additional 323 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Citizens Financial Group in the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group during the 4th quarter valued at $29,000. Finally, Activest Wealth Management lifted its holdings in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after purchasing an additional 504 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $74.72 on Monday. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $74.86. The business has a 50-day simple moving average of $70.56 and a 200 day simple moving average of $65.28. 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 stock has a market cap of $31.47 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 0.57 and a beta of 0.67.

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 for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the company earned $0.92 EPS. The company's quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

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 $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group's dividend payout ratio is 39.91%.

Insider Buying and Selling at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of the firm's 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 sale, 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 document filed with the SEC, which is available through the SEC website. Company insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. DA Davidson restated a "neutral" rating on shares of Citizens Financial Group in a research note on Friday. UBS Group increased their price target on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Evercore restated an "outperform" rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. Robert W. Baird boosted their price objective on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada upped their target price on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an "outperform" rating in a report on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $79.05.

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.

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