46,753 Shares in Citizens Financial Group, Inc. (NYSE:CFG) Bought by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 46,753 shares of the bank’s stock, valued at approximately $1,685,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after buying an additional 1,552,333 shares during the period. LSV Asset Management boosted its position in Citizens Financial Group by 1.8% during the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after acquiring an additional 113,300 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Citizens Financial Group by 15.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock worth $159,550,000 after acquiring an additional 587,115 shares during the period. Nordea Investment Management AB raised its position in shares of Citizens Financial Group by 15.3% in the 1st quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock worth $130,722,000 after acquiring an additional 480,129 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $117,372,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $40.72 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.08. The business has a 50-day simple moving average of $40.98 and a two-hundred day simple moving average of $37.01. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company earned $0.92 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s payout ratio is currently 60.87%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research reports. DA Davidson increased their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Stephens raised their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Piper Sandler boosted their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.20.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by company insiders.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.