10,330 Shares in Citizens Financial Group, Inc. $CFG Acquired by Commerce Bank

Commerce Bank purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,330 shares of the bank’s stock, valued at approximately $724,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group in the fourth quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new position in Citizens Financial Group during the first quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group during the fourth quarter valued at $29,000. Activest Wealth Management boosted its holdings in Citizens Financial Group by 5,600.0% in 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 last quarter. Finally, Elevation Wealth Partners LLC boosted its holdings in Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CFG. JPMorgan Chase & Co. lifted their price objective on Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Jefferies Financial Group upped their target price on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Truist Financial lifted their price target on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Robert W. Baird boosted their price target on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Activity

In other news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by company insiders.

Citizens Financial Group Trading Up 0.9%

Shares of CFG stock opened at $70.48 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.53 and a beta of 0.67. The stock has a 50 day simple moving average of $71.34 and a 200-day simple moving average of $65.65. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33.

Citizens Financial Group (NYSE:CFG) last announced 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. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 39.91%.

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.