Vise Technologies Inc. Makes New Investment in Citizens Financial Group, Inc. $CFG

Key Points

• Vise Technologies acquired 42,761 shares of Citizens Financial Group in the second quarter, valued at approximately $3.0 million. Institutional investors and hedge funds collectively own 94.90% of the bank’s 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 pays a quarterly dividend of $0.46, representing a 2.6% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $79.25 versus the stock’s reported $69.84 price. Meanwhile, CEO Saun Bruce Van sold 129,369 shares, reducing his ownership by 10.19%.

Vise Technologies Inc. acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 42,761 shares of the bank's stock, valued at approximately $2,996,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth about $3,415,046,000. Norges Bank purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $355,909,000. AQR Capital Management LLC raised its position in shares of Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock worth $451,075,000 after acquiring an additional 2,799,050 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $175,948,000. Finally, Deutsche Bank AG purchased a new stake in Citizens Financial Group during the second quarter worth approximately $174,108,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

NYSE CFG opened at $69.84 on Friday. The firm has a market cap of $29.42 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.53 and a beta of 0.67. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33. The business's 50-day moving average price is $71.15 and its 200 day moving average price is $65.56. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.25 billion. During the same period in the prior year, the business earned $0.92 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group's payout ratio is presently 39.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald upped their target price on shares of Citizens Financial Group from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday. Royal Bank Of Canada lifted their price target on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Barclays boosted their price target on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Argus set a $80.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, July 29th. Finally, Stephens raised their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $79.25.

Insider Activity at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was 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 $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by company 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.

Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source