Clear Harbor Asset Management LLC Invests $910,000 in Citizens Financial Group, Inc. $CFG

Clear Harbor Asset Management LLC acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,982 shares of the bank’s stock, valued at approximately $910,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new position in Citizens Financial Group in the first quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Citizens Financial Group during the fourth quarter worth about $29,000. Activest Wealth Management boosted its stake in Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE CFG opened at $69.84 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The firm has a market capitalization 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. The business’s 50-day simple moving average is $71.15 and its 200-day simple moving average is $65.57.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. Citizens Financial Group’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Equities analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

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

Insider Activity at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CFG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Robert W. Baird raised their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Barclays boosted their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Morgan Stanley upped their price target on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a research note on Friday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average target price of $79.25.

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.