First Citizens Bank & Trust Co. Acquires 141,602 Shares of Citizens Financial Group, Inc. $CFG

First Citizens Bank & Trust Co. boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4,748.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,584 shares of the bank’s stock after acquiring an additional 141,602 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Citizens Financial Group were worth $9,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CFG. BlackRock Inc. bought a new position in Citizens Financial Group in the second quarter worth about $3,415,046,000. Bank of America Corp DE purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $223,386,000. Legal & General Group Plc bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $207,234,000. Nykredit A S purchased a new stake in Citizens Financial Group in the second quarter worth about $188,380,000. Finally, Bank of New York Mellon Corp purchased a new position in Citizens Financial Group during the second quarter valued at $175,948,000. 94.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the business’s 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 completion of the sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Barclays increased their price objective on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Cantor Fitzgerald raised their target price on shares of Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Raymond James Financial began coverage on shares of Citizens Financial Group in a research report on Tuesday, October 6th. They issued a “strong-buy” rating and a $77.00 target price for the company. Finally, Evercore reiterated an “outperform” rating and set a $78.00 target price on shares of Citizens Financial Group in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.38.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $63.36 on Wednesday. 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 $26.69 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. The firm’s 50 day moving average price is $68.62 and its 200-day moving average price is $67.00. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that Citizens Financial Group, Inc. will post 5.29 EPS for the current year.

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.