61,575 Shares of Citizens Financial Group, Inc. $CFG Bought by InvesTrust

InvesTrust purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 61,575 shares of the bank’s stock, valued at approximately $3,926,000. Citizens Financial Group accounts for approximately 1.4% of InvesTrust’s holdings, making the stock its 23rd largest position.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth approximately $3,415,046,000. Dimensional Fund Advisors LP raised its position in shares of Citizens Financial Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock valued at $282,927,000 after buying an additional 28,602 shares during the period. Amundi lifted its holdings in Citizens Financial Group by 31.2% in the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock valued at $258,265,000 after acquiring an additional 875,666 shares during the last quarter. Bank of America Corp DE acquired a new position in Citizens Financial Group in the second quarter valued at approximately $223,386,000. Finally, Legal & General Group Plc acquired a new position in Citizens Financial Group in the second quarter valued at approximately $207,234,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 1.2%

CFG opened at $62.51 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 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. The business has a fifty day simple moving average of $68.40 and a 200-day simple moving average of $67.03. The firm has a market cap of $26.33 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CFG. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Argus set a $80.00 target price on Citizens Financial Group in a research report on Wednesday, July 29th. Citigroup upped their price target on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Evercore reaffirmed an “outperform” rating and issued a $78.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 1st. Finally, UBS Group lowered their price target on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

Insider Transactions at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.