Y Intercept Hong Kong Ltd Makes New $3.11 Million Investment in Citizens Financial Group, Inc. $CFG

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Citizens Financial Group, buying 51,913 shares valued at about $3.11 million in the first quarter.
• Citizens Financial Group reported strong quarterly results, with EPS of $1.13 beating estimates and revenue of $2.17 billion coming in slightly above expectations, while revenue rose 12% year over year.
• The company also maintained a quarterly dividend of $0.46 per share, equal to an annualized yield of 2.6%, while analysts currently rate the stock a Moderate Buy with an average price target of $74.35.

Y Intercept Hong Kong Ltd acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 51,913 shares of the bank's stock, valued at approximately $3,113,000.

Several other large investors have also made changes to their positions in CFG. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $29,000. Activest Wealth Management lifted its position in shares of Citizens Financial Group by 5,600.0% in 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. DV Equities LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter worth approximately $35,000. Finally, Fortitude Family Office LLC increased its position in shares of Citizens Financial Group by 632.0% during the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock worth $41,000 after purchasing an additional 613 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.3%

Citizens Financial Group stock traded down $0.25 during mid-day trading on Tuesday, hitting $71.86. The company's stock had a trading volume of 1,480,690 shares, compared to its average volume of 4,911,799. Citizens Financial Group, Inc. has a 1 year low of $45.90 and a 1 year high of $72.94. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $30.39 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. The stock's fifty day moving average is $65.26 and its two-hundred day moving average is $62.88.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the prior year, the business posted $0.77 EPS. The company's revenue was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group's payout ratio is presently 43.50%.

Insider Buying and Selling

In other news, insider Michelle Moosally sold 6,050 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.67% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stephens began coverage on Citizens Financial Group in a report on Monday, June 15th. They issued an "equal weight" rating on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Citizens Financial Group in a research report on Tuesday, June 9th. UBS Group boosted their price target on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday. Evercore reaffirmed an "outperform" rating and set a $80.00 price objective on shares of Citizens Financial Group in a research note on Monday. Finally, Truist Financial increased their price objective on shares of Citizens Financial Group from $69.00 to $72.00 and gave the company a "hold" rating in a report on Wednesday, June 24th. Sixteen equities research 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.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and an average price target of $74.35.

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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