Creative Planning Purchases 9,763 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Creative Planning boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,231 shares of the bank’s stock after acquiring an additional 9,763 shares during the quarter. Creative Planning’s holdings in Citizens Financial Group were worth $7,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CFG. Innealta Capital LLC bought a new position in Citizens Financial Group in the second quarter valued at approximately $25,000. Versant Capital Management Inc grew its stake in shares of Citizens Financial Group by 262.8% during the second 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 grew its stake in shares of Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after buying an additional 838 shares during the last quarter. Quarry LP grew 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 buying an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group during the second quarter worth $48,000. 94.90% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CFG. Piper Sandler boosted their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Evercore ISI decreased their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group lifted their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada lifted their price target 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. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus price target of $43.07.

Citizens Financial Group Price Performance

CFG stock opened at $40.06 on Thursday. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.43 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $43.96. The company’s fifty day simple moving average is $41.08 and its 200 day simple moving average is $37.51.

Citizens Financial Group (NYSE:CFG) last released its earnings results 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). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. Citizens Financial Group’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share 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 dividend of $0.42 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.19%. 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.