Proficio Capital Partners LLC Acquires Shares of 7,513 Citizens Financial Group, Inc. $CFG

Proficio Capital Partners LLC acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,513 shares of the bank’s stock, valued at approximately $526,000.

A number of other institutional investors also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group in the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Citizens Financial Group in the fourth quarter valued at $29,000. Activest Wealth Management raised its holdings in Citizens Financial Group by 5,600.0% in the fourth 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 boosted its stake in Citizens Financial Group by 319.8% during 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 owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.4%

NYSE CFG opened at $70.22 on Friday. 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. The company has a 50-day simple moving average of $71.41 and a 200-day simple moving average of $65.66. The firm has a market capitalization of $29.58 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping 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 firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Citizens Financial Group’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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

Analyst Ratings Changes

CFG has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods upped their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Royal Bank Of Canada increased their price target on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Argus set a $80.00 price target on Citizens Financial Group in a research note on Wednesday, July 29th. Finally, UBS Group boosted their price objective on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.25.

Insider Transactions at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of the company’s 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 in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by corporate insiders.

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.