Infrastructure Capital Advisors LLC Acquires Shares of 44,724 Citizens Financial Group, Inc. $CFG

Infrastructure Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,724 shares of the bank’s stock, valued at approximately $2,612,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Citizens Financial Group during the fourth quarter valued at approximately $26,000. 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 valued at $30,000 after purchasing an additional 504 shares during the period. DV Equities LLC purchased a new stake in Citizens Financial Group during the fourth quarter valued at approximately $35,000. State of Wyoming purchased a new stake in Citizens Financial Group during the second quarter valued at approximately $39,000. Finally, 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 valued at $41,000 after purchasing an additional 613 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company’s stock, valued at $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup restated a “buy” rating on shares of Citizens Financial Group in a research report on Friday, May 8th. Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Monday, March 9th. Weiss Ratings raised Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Citizens Financial Group in a research note on Tuesday, June 9th. Finally, Morgan Stanley cut their target price on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Eighteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $70.88.

Citizens Financial Group Trading Down 0.8%

CFG opened at $66.74 on Thursday. Citizens Financial Group, Inc. has a one year low of $40.41 and a one year high of $68.79. The stock has a market cap of $28.22 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.53 and a beta of 0.68. The stock’s 50 day moving average price is $63.89 and its 200-day moving average price is $61.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Citizens Financial Group’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed 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 of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a yield of 2.8%. Citizens Financial Group’s dividend payout ratio is 43.50%.

About Citizens Financial Group

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.