61,575 Shares in Citizens Financial Group, Inc. $CFG Purchased by InvesTrust

InvesTrust purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,575 shares of the bank’s stock, valued at approximately $3,926,000. Citizens Financial Group makes up 1.4% of InvesTrust’s investment portfolio, making the stock its 23rd biggest position.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Citizens Financial Group in the 2nd quarter valued at $3,415,046,000. Dimensional Fund Advisors LP boosted its stake in Citizens Financial Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares during the last quarter. Amundi boosted its stake in Citizens Financial Group by 31.2% during the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after purchasing an additional 875,666 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Citizens Financial Group during the second quarter worth $223,386,000. Finally, Legal & General Group Plc purchased a new stake in shares of Citizens Financial Group during the second quarter worth $207,234,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $62.51 on Thursday. The business’s 50 day moving average price is $68.40 and its 200 day moving average price is $67.03. The company has a market cap of $26.33 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33.

Citizens Financial Group (NYSE:CFG) last issued 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. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. On average, research analysts predict that Citizens Financial Group, Inc. will post 5.29 EPS for the current year.

Insider Activity

In other news, CEO Bruce Van Saun 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 transaction of $9,323,623.83. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CFG shares. Keefe, Bruyette & Woods raised 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. Stephens boosted their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Truist Financial dropped their price objective on shares of Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, September 23rd. Argus set a $80.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, July 29th. Finally, DA Davidson reiterated a “neutral” rating on shares of Citizens Financial Group in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.