Citizens Financial Group, Inc. $CFG Shares Newly Purchased by Union Savings Bank

Union Savings Bank purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,539 shares of the bank’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFG. BlackRock Inc. bought a new position in shares of Citizens Financial Group in the second quarter valued at approximately $3,415,046,000. Bank of America Corp DE purchased a new position in shares of Citizens Financial Group during the second quarter valued at approximately $223,386,000. Legal & General Group Plc purchased a new position in shares of Citizens Financial Group during the second quarter valued at approximately $207,234,000. Nykredit A S bought a new stake in Citizens Financial Group during the second quarter worth $188,380,000. Finally, Bank of New York Mellon Corp bought a new stake in Citizens Financial Group during the second quarter worth $175,948,000. 94.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE CFG traded down $0.79 during trading hours on Wednesday, reaching $62.51. 4,481,779 shares of the company were exchanged, compared to its average volume of 4,596,083. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $26.33 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.58 and a beta of 0.72. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The business’s 50 day simple moving average is $68.62 and its 200-day simple moving average is $67.00.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The firm 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 company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CFG has been the topic of several recent analyst reports. Argus set a $80.00 price objective on Citizens Financial Group in a research note on Wednesday, July 29th. Cantor Fitzgerald lowered their target price on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and issued a $78.00 price objective on shares of Citizens Financial Group in a research report on Thursday, October 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.