Cetera Investment Advisers Buys 6,003 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Cetera Investment Advisers increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.7% during the 2nd quarter, Holdings Channel reports. The fund owned 134,855 shares of the bank’s stock after acquiring an additional 6,003 shares during the period. Cetera Investment Advisers’ holdings in Citizens Financial Group were worth $4,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Citizens Financial Group during the second quarter valued at about $25,000. Versant Capital Management Inc raised its stake 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 buying an additional 678 shares during the period. Private Ocean LLC boosted its holdings in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP grew its stake in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after acquiring an additional 714 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $48,000. 94.90% of the stock is owned by institutional investors.

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 stock was sold at an average price of $43.26, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.

Citizens Financial Group Stock Up 0.1 %

Shares of NYSE CFG opened at $41.21 on Wednesday. The business’s fifty day moving average price is $40.94 and its 200-day moving average price is $37.66. Citizens Financial Group, Inc. has a one year low of $22.77 and a one year high of $43.96. The stock has a market capitalization of $18.75 billion, a PE ratio of 14.93, a P/E/G ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last posted its 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 business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. Citizens Financial Group’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s payout ratio is currently 60.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CFG. Morgan Stanley increased their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Evercore ISI decreased their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group upped 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. Finally, Stephens raised their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Hold” and a consensus target price of $43.07.

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.