Citizens Financial Group Target of Unusually High Options Trading (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) was the target of unusually large options trading on Thursday. Traders purchased 5,041 call options on the company. This is an increase of 297% compared to the typical volume of 1,269 call options.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CFG. Cantor Fitzgerald increased their price objective on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial boosted their price objective on shares of Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of Citizens Financial Group from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Citigroup cut Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Morgan Stanley lifted their price target on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $74.60.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ballast Inc. bought a new position in shares of Citizens Financial Group in the second quarter valued at about $322,000. Tema ETFs LLC lifted its stake in shares of Citizens Financial Group by 9.4% during the 2nd quarter. Tema ETFs LLC now owns 8,425 shares of the bank’s stock worth $590,000 after buying an additional 725 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in shares of Citizens Financial Group by 6.8% during the 2nd quarter. Everhart Financial Group Inc. now owns 23,279 shares of the bank’s stock worth $1,631,000 after buying an additional 1,487 shares during the period. Everpar Advisors LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $211,000. Finally, Valeo Financial Advisors LLC grew its stake in Citizens Financial Group by 11.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,918 shares of the bank’s stock valued at $275,000 after buying an additional 387 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Citizens Financial Group

Here are the key news stories impacting Citizens Financial Group this week:

• Positive Sentiment: Citizens Financial Group reported Q2 EPS of $1.30, topping the $1.25 consensus estimate and up from $0.92 a year ago, with revenue rising 12.1% year over year. Article Title
• Positive Sentiment: Second-quarter net income rose to $587 million, up 35% year over year, as higher net interest income and fee growth in wealth and capital markets boosted results. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on CFG to $80 from $75 and reiterated an overweight rating, signaling confidence in further upside. Article Title
• Positive Sentiment: Unusual options activity also pointed to bullish sentiment, with call volume surging to 5,041 contracts, well above the recent average.
• Neutral Sentiment: Management said the quarter benefited from strong revenue trends, but investors may still watch expense pressure and credit provisions going forward. Article Title

Citizens Financial Group Stock Up 3.5%

Shares of CFG traded up $2.52 during mid-day trading on Thursday, hitting $73.64. 3,434,758 shares of the company’s stock were exchanged, compared to its average volume of 4,947,293. 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 has a 52 week low of $45.90 and a 52 week high of $74.70. The company has a market cap of $31.14 billion, a PE ratio of 17.38, a P/E/G ratio of 0.58 and a beta of 0.67. The company has a 50-day simple moving average of $66.04 and a 200 day simple moving average of $63.43.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. On average, research analysts forecast that Citizens Financial Group will post 5.22 earnings per share for the current fiscal year.

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.