Ieq Capital LLC Makes New $29.10 Million Investment in Citizens Financial Group, Inc. $CFG

Ieq Capital LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, HoldingsChannel.com reports. The fund bought 415,311 shares of the bank’s stock, valued at approximately $29,101,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CFG. Callan Family Office LLC purchased a new position in shares of Citizens Financial Group in the 2nd quarter worth about $1,685,000. Fund Advisors of America Inc FL bought a new position in Citizens Financial Group in the 2nd quarter worth about $389,000. Keating Financial Advisory Services Inc. purchased a new stake in Citizens Financial Group during the 2nd quarter valued at about $35,000. OneAscent Financial Services LLC purchased a new stake in Citizens Financial Group during the 2nd quarter valued at about $206,000. Finally, Allworth Financial LP bought a new stake in Citizens Financial Group during the 2nd quarter valued at about $889,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $69.84 on Friday. The stock’s fifty day moving average is $71.15 and its 200 day moving average is $65.56. The stock has a market cap of $29.42 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.53 and a beta of 0.67. 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.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business posted $0.92 EPS. Citizens Financial Group’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is currently 39.91%.

Wall Street Analysts Forecast Growth

CFG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Argus set a $80.00 price target on shares of Citizens Financial Group in a research report on Wednesday, July 29th. Stephens boosted their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.67% of the company’s stock.

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.