Maverick Capital Ltd. Purchases Shares of 22,222 Citizens Financial Group, Inc. $CFG

Key Points

• Maverick Capital purchased 22,222 shares of Citizens Financial Group during the first quarter, valued at approximately $1.33 million. Institutional investors collectively own 94.9% of the bank’s outstanding stock.
• Citizens Financial Group reported quarterly EPS of $1.30, exceeding estimates by $0.05, while revenue rose 12.1% year over year to $2.28 billion. The company also declared a quarterly dividend of $0.46 per share, representing a 2.6% annualized yield.
• Analysts remain broadly positive, with 17 Buy ratings and three Holds; the stock has an average price target of $78.55, above its recent opening price of $71.14.

Maverick Capital Ltd. purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,222 shares of the bank's stock, valued at approximately $1,333,000.

A number of other institutional investors have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Citizens Financial Group during the first quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Citizens Financial Group during the fourth quarter valued at approximately $29,000. Activest Wealth Management raised its position in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after acquiring an additional 504 shares in the last quarter. Finally, DV Equities LLC acquired a new position in Citizens Financial Group in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Insider Transactions at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Trading Down 1.0%

Shares of CFG stock opened at $71.14 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $30.08 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.55 and a beta of 0.67. The stock has a 50 day simple moving average of $67.68 and a 200-day simple moving average of $64.13. Citizens Financial Group, Inc. has a 1-year low of $45.90 and a 1-year high of $74.70.

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, 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 for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $0.92 EPS. The business's revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 30th. Citizens Financial Group's dividend payout ratio (DPR) is presently 39.91%.

Wall Street Analysts Forecast Growth

CFG has been the topic of several recent research reports. DA Davidson upped their price objective on Citizens Financial Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Evercore reiterated an "outperform" rating and issued a $80.00 target price on shares of Citizens Financial Group in a research note on Monday, July 6th. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Finally, Cantor Fitzgerald upped their price objective on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and an average price target of $78.55.

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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