Commerzbank Aktiengesellschaft FI Buys Shares of 22,096 Citizens Financial Group, Inc. $CFG

Commerzbank Aktiengesellschaft FI bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, Holdings Channel reports. The institutional investor bought 22,096 shares of the bank’s stock, valued at approximately $1,548,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in shares of Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after acquiring an additional 274 shares in the last quarter. Empowered Funds LLC grew its stake in Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after purchasing an additional 554 shares in the last quarter. Woodline Partners LP increased its position in Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after purchasing an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Citizens Financial Group by 93.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after purchasing an additional 4,739 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Citizens Financial Group by 5.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock valued at $2,934,000 after buying an additional 3,225 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Down 1.2%

Citizens Financial Group stock opened at $73.45 on Wednesday. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $30.94 billion, a PE ratio of 15.93, a PEG ratio of 0.57 and a beta of 0.67. The business’s 50-day simple moving average is $70.92 and its 200-day simple moving average is $65.43.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $0.92 EPS. The company’s revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.5%. Citizens Financial Group’s dividend payout ratio is 39.91%.

Insider Transactions at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays increased their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup raised their price target on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. Stephens increased their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Truist Financial boosted their price target on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, DA Davidson restated a “neutral” rating on shares of Citizens Financial Group in a report on Friday. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.05.

Citizens Financial Group Profile

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.