Citizens Financial Group, Inc. (NYSE:CFG) Stock Position Increased by Quarry LP

Quarry LP boosted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 200.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,035 shares of the bank’s stock after buying an additional 1,357 shares during the quarter. Quarry LP’s holdings in Citizens Financial Group were worth $73,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Citizens Financial Group during the 2nd quarter valued at $25,000. Versant Capital Management Inc boosted its position in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after acquiring an additional 678 shares during the period. Private Ocean LLC grew its stake in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $48,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group in the second quarter worth approximately $48,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday. Piper Sandler boosted their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson increased their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Raymond James started coverage on Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating for the company. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus target price of $43.07.

Insider Activity

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by company insiders.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $40.03 on Friday. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $43.96. The firm has a fifty day simple moving average of $41.01 and a 200-day simple moving average of $37.53. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $18.21 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.43 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company earned $0.92 earnings per share. Citizens Financial Group’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.