Citizens Financial Group, Inc. (NYSE:CFG) Shares Bought by Empirical Finance LLC

Empirical Finance LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,739 shares of the bank’s stock after buying an additional 563 shares during the period. Empirical Finance LLC’s holdings in Citizens Financial Group were worth $607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at $33,000. Quarry LP increased its stake in shares of 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 in the last quarter. CVA Family Office LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $40,000. Blue Trust Inc. boosted its position in Citizens Financial Group by 77.6% during the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after acquiring an additional 574 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Citizens Financial Group by 40.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock worth $54,000 after acquiring an additional 472 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 0.1 %

Shares of NYSE:CFG opened at $38.23 on Friday. The stock has a market cap of $17.40 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.44 and a beta of 1.10. The firm has a fifty day moving average price of $35.45 and a 200 day moving average price of $34.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $38.37.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s revenue was down 7.9% on a year-over-year basis. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.39%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Activity

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

CFG has been the topic of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and set a $38.00 price target on shares of Citizens Financial Group in a research report on Wednesday, June 12th. Raymond James began coverage on shares of Citizens Financial Group in a report on Thursday. They issued a “market perform” rating on the stock. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. Jefferies Financial Group upped their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $41.00 in a research report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and an average target price of $37.80.

Citizens Financial Group Profile

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.