Hsbc Holdings PLC Acquires 45,038 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Hsbc Holdings PLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,764,090 shares of the bank’s stock after purchasing an additional 45,038 shares during the quarter. Hsbc Holdings PLC owned approximately 0.61% of Citizens Financial Group worth $99,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Citizens Financial Group in the second quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares in the last quarter. Private Ocean LLC lifted its position in Citizens Financial Group by 484.4% in the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP lifted its holdings in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after purchasing an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Citizens Financial Group in the second quarter valued at approximately $48,000. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CFG. Piper Sandler increased their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. UBS Group boosted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Stephens upped their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.20.

Insiders Place Their Bets

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

Citizens Financial Group Stock Up 0.4 %

Shares of CFG stock opened at $40.72 on Thursday. The stock has a 50 day moving average of $40.98 and a 200 day moving average of $37.01. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The stock has a market cap of $18.53 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.42 and a beta of 1.08.

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

Citizens Financial Group Dividend Announcement

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

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.