Clear Harbor Asset Management LLC Buys New Position in Citizens Financial Group, Inc. $CFG

Clear Harbor Asset Management LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,982 shares of the bank’s stock, valued at approximately $910,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Citizens Financial Group in the second quarter valued at approximately $3,415,046,000. Geode Capital Management LLC lifted its position in shares of Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after purchasing an additional 32,264 shares in the last quarter. Morgan Stanley lifted its position in shares of Citizens Financial Group by 2.7% during the fourth quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock worth $655,242,000 after purchasing an additional 298,779 shares in the last quarter. Capital International Investors boosted its stake in shares of Citizens Financial Group by 32.3% in the fourth quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock valued at $467,389,000 after purchasing an additional 1,953,372 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock valued at $451,075,000 after purchasing an additional 2,799,050 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CFG shares. JPMorgan Chase & Co. upped their price objective on shares of Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their target price on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. UBS Group boosted their price target on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Truist Financial increased their price target on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald raised their price objective on Citizens Financial Group from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Stock Down 0.0%

CFG stock opened at $69.84 on Monday. The stock has a market cap of $29.42 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The firm’s 50-day simple moving average is $71.15 and its 200 day simple moving average is $65.57. Citizens Financial Group, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $75.33. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

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

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is 39.91%.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by company insiders.

Citizens Financial Group 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.