34,225 Shares in Citizens Financial Group, Inc. (NYSE:CFG) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,225 shares of the bank’s stock, valued at approximately $1,233,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new position in shares of Citizens Financial Group during the second quarter valued at $25,000. Versant Capital Management Inc raised its position in Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares during the last quarter. Private Ocean LLC boosted its holdings 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 during the last quarter. Quarry LP boosted its holdings in shares of Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after acquiring an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group in the second quarter worth approximately $48,000. Institutional investors own 94.90% of the company’s stock.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of 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 filing with the SEC, which is available through this link. Insiders own 0.62% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $41.07 on Tuesday. The stock has a 50-day moving average price of $41.17 and a 200 day moving average price of $37.44. The stock has a market capitalization of $18.69 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.43 and a beta of 1.08. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-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.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts forecast that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.09%. Citizens Financial Group’s payout ratio is 60.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday. Evercore ISI raised their target price on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group upped their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group increased their price objective 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. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.60.

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.