Citizens Financial Group, Inc. (NYSE:CFG) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 86.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,119 shares of the bank’s stock after purchasing an additional 5,167 shares during the period. Ritholtz Wealth Management’s holdings in Citizens Financial Group were worth $457,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CFG. Innealta Capital LLC bought a new stake in Citizens Financial Group in the second quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the last quarter. Private Ocean LLC raised its position in shares of Citizens Financial Group by 484.4% during 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. Ridgewood Investments LLC bought a new position in Citizens Financial Group during the second quarter worth $48,000. Finally, Atlas Capital Advisors LLC bought a new position in Citizens Financial Group during the second quarter worth $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. DA Davidson raised their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. The Goldman Sachs Group upped their target price on Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Stephens upped their target price on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group boosted their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Hold” and an average target price of $43.07.

Citizens Financial Group Stock Down 2.4 %

Citizens Financial Group stock opened at $42.42 on Thursday. The company’s 50-day moving average price is $41.22 and its two-hundred day moving average price is $37.97. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.42 and a beta of 1.07. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $44.39. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last released its earnings results 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). The firm had revenue of $1.96 billion during 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 business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. On average, analysts expect that Citizens Financial Group, Inc. will post 3.22 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.96%. 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.