Cetera Investment Advisers Has $4.86 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Cetera Investment Advisers increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,855 shares of the bank’s stock after buying an additional 6,003 shares during the period. Cetera Investment Advisers’ holdings in Citizens Financial Group were worth $4,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at $25,000. Versant Capital Management Inc increased its position 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 worth $34,000 after purchasing an additional 678 shares during the period. Private Ocean LLC raised its stake in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares in the last quarter. Quarry LP lifted its position in Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Citizens Financial Group during the second quarter worth about $48,000. 94.90% of the stock is currently owned by institutional investors.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CFG shares. Piper Sandler boosted 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. UBS Group boosted their price objective 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. Raymond James started coverage on Citizens Financial Group in a research note on Thursday, July 11th. They issued a “market perform” rating on the stock. Jefferies Financial Group upped their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Evercore ISI reduced their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.07.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $41.21 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96. The firm has a market cap of $18.75 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The firm’s fifty day moving average is $40.94 and its 200-day moving average is $37.66.

Citizens Financial Group (NYSE:CFG) last announced its 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 analyst estimates 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 quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 4.08%. Citizens Financial Group’s payout ratio is 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.