Caprock Group LLC Acquires 8,599 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Caprock Group LLC lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 120.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,739 shares of the bank’s stock after purchasing an additional 8,599 shares during the quarter. Caprock Group LLC’s holdings in Citizens Financial Group were worth $567,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CFG. Innealta Capital LLC bought a new stake in Citizens Financial Group during the 2nd quarter worth about $25,000. Versant Capital Management Inc boosted its position in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. Private Ocean LLC grew its stake in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares in the last quarter. Quarry LP raised its stake in shares of Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Citizens Financial Group in the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

NYSE CFG opened at $39.66 on Thursday. The company has a market cap of $17.78 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $40.54 and its two-hundred day simple moving average is $36.68. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.24%. Citizens Financial Group’s payout ratio is currently 60.87%.

Analysts Set New Price Targets

Several research firms have issued reports on CFG. Raymond James assumed coverage on shares of Citizens Financial Group in a research report on Thursday, July 11th. They set a “market perform” rating on the stock. Stephens upped their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Jefferies Financial Group lifted their price target on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. UBS Group upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Evercore ISI lifted their target price on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.20.

Insider Activity

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction that occurred on 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 sale, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Company 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.