Resonant Capital Advisors LLC Acquires Shares of 9,199 Citizens Financial Group, Inc. $CFG

Resonant Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the first quarter, HoldingsChannel reports. The firm acquired 9,199 shares of the bank’s stock, valued at approximately $552,000.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the fourth quarter valued at approximately $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Citizens Financial Group during the 4th quarter valued at approximately $29,000. Activest Wealth Management increased its stake in Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after acquiring an additional 504 shares during the last quarter. DV Equities LLC bought a new stake in Citizens Financial Group in the 4th quarter worth approximately $35,000. Finally, State of Wyoming purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth approximately $39,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group News Summary

Here are the key news stories impacting Citizens Financial Group this week:

• Positive Sentiment: UBS Group raised its price target on Citizens Financial Group (CFG) to $82 from $75 and kept a buy rating, implying meaningful upside from recent trading levels. Citizens Financial Group had its price target raised by UBS Group AG from $75.00 to $82.00. They now have a “buy” rating on the stock.
• Positive Sentiment: JPMorgan also lifted its target on CFG to $76 from $68.50 and maintained an overweight rating, reinforcing a constructive view on the bank’s valuation. Citizens Financial Group had its price target raised by JPMorgan Chase & Co. from $68.50 to $76.00. They now have an “overweight” rating on the stock.
• Neutral Sentiment: Citizens Financial Group announced that CEO Bruce Van Saun will speak at the Barclays Global Financial Services Conference in September, which is a routine investor-relations event and does not by itself change fundamentals. Citizens Financial Group to Participate at the Barclays 24th Annual Global Financial Services Conference.
• Neutral Sentiment: Robert W. Baird reaffirmed a neutral rating and set a $72 target, suggesting the shares are fairly valued near current levels. Citizens Financial Group had its “neutral” rating reaffirmed by Robert W. Baird.
• Neutral Sentiment: A separate head-to-head review comparing CFG with Peoples Financial Services is mainly informational and unlikely to materially affect the stock price. Peoples Financial Services (NASDAQ:PFIS) & Citizens Financial Group (NYSE:CFG) Head-To-Head Review.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. DA Davidson increased their target price on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Citigroup cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Citizens Financial Group from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings raised shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.35.

Citizens Financial Group Trading Down 0.4%

Shares of CFG opened at $71.81 on Wednesday. The company’s fifty day simple moving average is $65.42 and its 200-day simple moving average is $62.98. The company has a market cap of $30.37 billion, a P/E ratio of 16.98, a P/E/G ratio of 0.57 and a beta of 0.67. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a twelve month low of $45.90 and a twelve month high of $72.94.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. As a group, analysts expect that Citizens Financial Group, Inc. will post 5.21 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s payout ratio is 43.50%.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.67% of the stock is owned by company insiders.

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.