Cibc World Market Inc. Takes Position in Citizens Financial Group, Inc. $CFG

Cibc World Market Inc. purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 152,132 shares of the bank’s stock, valued at approximately $10,660,000.

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

Insider Buying and Selling

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was 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 the SEC website. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $70.23 on Tuesday. The company’s 50-day moving average is $71.22 and its two-hundred day moving average is $65.59. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.53 and a beta of 0.67.

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

Citizens Financial Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CFG shares. Argus set a $80.00 target price on shares of Citizens Financial Group in a research note on Wednesday, July 29th. Morgan Stanley upped their price target on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. DA Davidson reiterated a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. Stephens boosted their price objective 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. Finally, Royal Bank Of Canada upped their target price on Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.25.

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.