415,311 Shares in Citizens Financial Group, Inc. $CFG Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 415,311 shares of the bank’s stock, valued at approximately $29,101,000. Ieq Capital LLC owned about 0.10% of Citizens Financial Group as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Callan Family Office LLC bought a new stake in Citizens Financial Group in the 2nd quarter worth $1,685,000. Fund Advisors of America Inc FL bought a new position in shares of Citizens Financial Group during the second quarter valued at about $389,000. Keating Financial Advisory Services Inc. bought a new position in shares of Citizens Financial Group during the second quarter valued at about $35,000. OneAscent Financial Services LLC purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $206,000. Finally, Allworth Financial LP purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $889,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling

In related 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 sale, the chief executive officer owned 1,140,763 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Argus set a $80.00 price objective on Citizens Financial Group in a report on Wednesday, July 29th. UBS Group lifted their price objective on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Citigroup boosted their target price on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Barclays upped their target price on Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group Price Performance

CFG opened at $69.84 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a market cap of $29.42 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The stock has a fifty day simple moving average of $71.15 and a two-hundred day simple moving average of $65.56. Citizens Financial Group, Inc. has a 12-month low of $47.96 and a 12-month high of $75.33.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Research 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

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.