Pallas Capital Advisors LLC Takes Position in Citizens Financial Group, Inc. (NYSE:CFG)

Pallas Capital Advisors LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,724 shares of the bank’s stock, valued at approximately $386,000.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Citizens Financial Group by 262.8% in 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 period. Larson Financial Group LLC purchased a new stake in Citizens Financial Group in the fourth quarter worth about $33,000. Quarry LP lifted its holdings in Citizens Financial Group by 183.1% in 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 period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Citizens Financial Group by 686.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the bank’s stock worth $73,000 after buying an additional 1,758 shares during the period. Finally, Mather Group LLC. purchased a new stake in Citizens Financial Group in the first quarter worth about $68,000. 94.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Argus lifted their target price on shares of Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Stephens boosted their price objective on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Evercore ISI boosted their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.20.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by insiders.

Citizens Financial Group Price Performance

CFG stock traded down $0.26 during trading on Wednesday, reaching $40.95. The company’s stock had a trading volume of 539,113 shares, compared to its average volume of 5,432,855. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $43.96. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18.63 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10. The company’s fifty day moving average is $38.37 and its 200-day moving average is $35.54.

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

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.10%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s 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.