Raiffeisen Bank International AG Increases Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Raiffeisen Bank International AG increased its Citizens Financial Group stake by 1,117.3% in the second quarter, bringing its holdings to 39,100 shares valued at approximately $2.75 million. Institutional investors collectively own 94.9% of CFG.
• Analysts maintain a favorable outlook, with 16 Buy ratings and four Holds, producing a consensus rating of “Moderate Buy” and an average price target of $79.25. Citizens also exceeded quarterly earnings expectations, reporting $1.30 in EPS versus the $1.25 consensus.
• Citizens Financial Group paid a quarterly dividend of $0.46 per share, equivalent to an annualized $1.84 and a 2.6% yield. CEO Bruce Van Saun separately sold 129,369 shares for approximately $9.3 million.

Raiffeisen Bank International AG raised its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 1,117.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,100 shares of the bank's stock after acquiring an additional 35,888 shares during the quarter. Raiffeisen Bank International AG's holdings in Citizens Financial Group were worth $2,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CFG. Syon Capital LLC increased its stake in Citizens Financial Group by 6.6% during the 2nd quarter. Syon Capital LLC now owns 25,659 shares of the bank's stock worth $1,798,000 after buying an additional 1,582 shares during the period. TD Waterhouse Canada Inc. boosted its position in Citizens Financial Group by 2.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 33,573 shares of the bank's stock valued at $2,411,000 after buying an additional 687 shares during the period. iSAM Funds UK Ltd purchased a new position in Citizens Financial Group in the 2nd quarter valued at approximately $2,929,000. Continuum Advisory LLC grew its stake in shares of Citizens Financial Group by 5.0% in the second quarter. Continuum Advisory LLC now owns 7,298 shares of the bank's stock worth $511,000 after acquiring an additional 349 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Citizens Financial Group in the second quarter worth $188,380,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the business'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 transaction of $9,323,623.83. Following the completion of the sale, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CFG. Cantor Fitzgerald increased their price objective on Citizens Financial Group from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Stephens boosted their target price on 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 upped their price target on Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Argus set a $80.00 price objective on Citizens Financial Group in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group boosted their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and a consensus target price of $79.25.

Citizens Financial Group Trading Down 0.0%

CFG opened at $70.81 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33. The company has a market cap of $29.82 billion, a P/E ratio of 15.36, a PEG ratio of 0.64 and a beta of 0.66. The business's 50-day simple moving average is $71.48 and its 200-day simple moving average is $65.80.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its 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. The firm had revenue of $2.28 billion during the quarter, compared to analysts' expectations 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 in the previous year, the business earned $0.92 earnings per share. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS 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. Shareholders of record on Thursday, July 30th were issued 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 yield of 2.6%. Citizens Financial Group's dividend payout ratio (DPR) is presently 39.91%.

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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