Infrastructure Capital Advisors LLC Acquires 37,488 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Infrastructure Capital Advisors increased its Citizens Financial Group stake by 83.8% in the first quarter, adding 37,488 shares to hold 82,212 shares valued at approximately $4.93 million. Institutional investors own 94.9% of CFG’s outstanding stock.
• Citizens Financial Group reported quarterly earnings of $1.30 per share, beating estimates of $1.25, while revenue rose 12.1% year over year to $2.28 billion. The bank also declared a $0.46 quarterly dividend, representing a 2.6% annualized yield.
• Analyst sentiment remains positive, with 17 Buy ratings and three Holds contributing to a “Moderate Buy” consensus and an average price target of $78.55, above the reported share price of $71.14.

Infrastructure Capital Advisors LLC grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 83.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,212 shares of the bank's stock after buying an additional 37,488 shares during the quarter. Infrastructure Capital Advisors LLC's holdings in Citizens Financial Group were worth $4,930,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group in the 1st quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $29,000. Activest Wealth Management raised its holdings in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after buying an additional 504 shares in the last quarter. Finally, DV Equities LLC acquired a new position in shares of Citizens Financial Group in the 4th quarter worth approximately $35,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Down 1.0%

Shares of CFG opened at $71.14 on Tuesday. The company has a market capitalization of $30.08 billion, a P/E ratio of 15.43, a PEG ratio of 0.55 and a beta of 0.67. Citizens Financial Group, Inc. has a one year low of $45.90 and a one year high of $74.70. The business's 50 day simple moving average is $67.68 and its 200-day simple moving average is $64.13. 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 (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, beating 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 firm had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same period last year, the firm posted $0.92 EPS. The business's revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be paid a $0.46 dividend. The ex-dividend date is Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group's dividend payout ratio (DPR) is 39.91%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CFG. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Cantor Fitzgerald increased their price objective on Citizens Financial Group from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Barclays increased their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Robert W. Baird boosted their target price 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, Evercore reaffirmed an "outperform" rating and issued a $80.00 target price on shares of Citizens Financial Group in a report on Monday, July 6th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.55.

Insider Transactions at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This represents a 21.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

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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