Royal Palms Capital LLC Invests $1.03 Million in Citizens Financial Group, Inc. $CFG

Royal Palms Capital LLC acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,610 shares of the bank’s stock, valued at approximately $1,029,000. Citizens Financial Group makes up about 1.2% of Royal Palms Capital LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors have also made changes to their positions in the business. Activest Wealth Management raised its position in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after acquiring an additional 504 shares in the last quarter. State of Wyoming bought a new stake in Citizens Financial Group during the second quarter worth $39,000. Kestra Investment Management LLC raised its position in Citizens Financial Group by 2,703.0% during the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock worth $41,000 after acquiring an additional 892 shares in the last quarter. Fortitude Family Office LLC raised its position in Citizens Financial Group by 632.0% during the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock worth $41,000 after acquiring an additional 613 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new stake in Citizens Financial Group during the fourth quarter worth $50,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

NYSE:CFG opened at $63.61 on Wednesday. Citizens Financial Group, Inc. has a one year low of $39.40 and a one year high of $68.79. The company has a market cap of $26.90 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.50 and a beta of 0.70. The firm’s fifty day moving average price is $62.04 and its two-hundred day moving average price is $60.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts expect that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.46 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. Citizens Financial Group’s dividend payout ratio is 43.50%.

Insider Activity

In related news, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares in the company, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective on shares of Citizens Financial Group in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Robert W. Baird upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Monday, March 9th. Finally, Morgan Stanley decreased their price objective on shares of Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Nineteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.88.

Citizens Financial Group Company Profile

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.