Citizens Financial Group, Inc. (NYSE:CFG) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 29.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,140 shares of the bank’s stock after buying an additional 2,529 shares during the period. HB Wealth Management LLC’s holdings in Citizens Financial Group were worth $404,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in Citizens Financial Group during the 4th quarter worth $33,000. Quarry LP grew its holdings in shares of Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after buying an additional 714 shares during the last quarter. CVA Family Office LLC acquired a new position in Citizens Financial Group in the 4th quarter valued at about $40,000. Blue Trust Inc. raised its stake in Citizens Financial Group by 77.6% during the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Citizens Financial Group by 40.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock worth $54,000 after acquiring an additional 472 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insiders Place Their Bets

In related news, insider Craig Jack Read sold 6,327 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Citizens Financial Group Stock Performance

CFG stock traded down $0.67 during trading on Friday, reaching $35.38. 1,216,729 shares of the stock were exchanged, compared to its average volume of 5,288,269. The stock has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $33.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $16.10 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $37.30.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the firm earned $1.00 EPS. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.16 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CFG. Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 price objective on shares of Citizens Financial Group in a report on Wednesday, June 12th. Wedbush lowered their price target on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Piper Sandler upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $35.00 to $41.00 in a report on Friday, April 26th. JPMorgan Chase & Co. lowered their price objective on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Evercore ISI increased their price target on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.73.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.