Gateway Wealth Partners LLC Takes Position in Citizens Financial Group, Inc. $CFG

Gateway Wealth Partners LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,428 shares of the bank’s stock, valued at approximately $625,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Citizens Financial Group during the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC purchased a new stake in Citizens Financial Group in the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group in the fourth quarter worth $29,000. Activest Wealth Management lifted its position in shares of Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after purchasing an additional 504 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of Citizens Financial Group during the fourth quarter worth $35,000. 94.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares of the company’s stock, valued at $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Truist Financial raised their price target on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Stephens lifted their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.05.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $71.72 on Friday. The firm has a 50 day moving average of $68.26 and a 200 day moving average of $64.37. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $30.33 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67. Citizens Financial Group, Inc. has a 52 week low of $45.90 and a 52 week high of $74.70.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is 39.91%.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.