Proficio Capital Partners LLC Makes New Investment in Citizens Financial Group, Inc. $CFG

Proficio Capital Partners LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,513 shares of the bank’s stock, valued at approximately $526,000.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after acquiring an additional 274 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Citizens Financial Group by 6.7% in the 1st 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 raised its holdings in shares of Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after purchasing an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Citizens Financial Group by 93.4% in 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 during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Citizens Financial Group by 5.2% during the second quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock valued at $2,934,000 after purchasing an additional 3,225 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by insiders.

Citizens Financial Group Trading Up 2.3%

NYSE CFG opened at $69.74 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The company has a 50 day moving average price of $71.46 and a 200 day moving average price of $65.73. 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 firm has a market cap of $29.37 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.62 and a beta of 0.66.

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

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given 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 dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 39.91%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CFG shares. Royal Bank Of Canada lifted their price objective on shares of Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Truist Financial increased their target price on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Stephens lifted their price target on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. DA Davidson reissued a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. Finally, Cantor Fitzgerald upped their price objective on Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Company 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.