Tidal Investments LLC Has $10.19 Million Position in Citizens Financial Group, Inc. $CFG

Tidal Investments LLC boosted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,378 shares of the bank’s stock after purchasing an additional 16,000 shares during the period. Tidal Investments LLC’s holdings in Citizens Financial Group were worth $10,187,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after purchasing an additional 32,264 shares during the period. Jupiter Asset Management Ltd. increased its stake in Citizens Financial Group by 45.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after acquiring an additional 85,052 shares during the period. Todd Asset Management LLC grew its stake in shares of Citizens Financial Group by 10.6% in the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after purchasing an additional 94,774 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Citizens Financial Group by 51.8% during the fourth quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after acquiring an additional 20,008 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in Citizens Financial Group in the second quarter valued at about $95,642,000. 94.90% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Bruce Van Saun sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer directly 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 Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by company insiders.

Analyst Ratings Changes

CFG has been the subject of a number of research analyst reports. Morgan Stanley set a $90.00 price target on Citizens Financial Group in a report on Tuesday. Royal Bank Of Canada upped their price objective on 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 lifted their price target on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Argus set a $80.00 target price on shares of Citizens Financial Group in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald increased their price objective on Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

Citizens Financial Group Trading Up 1.2%

Shares of NYSE:CFG opened at $70.47 on Friday. The company has a market capitalization of $29.68 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.63 and a beta of 0.66. The business’s 50 day simple moving average is $71.41 and its 200 day simple moving average is $65.99. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. On average, research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is presently 39.91%.

Citizens Financial Group Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through its primary subsidiary, Citizens Bank, the company provides retail and commercial banking services to individuals, businesses, institutions and government entities.

Its offerings include checking and savings accounts, consumer and residential lending, credit cards, business loans, commercial real estate financing, treasury management, investment banking, capital markets services and wealth management.