AlphaStar Capital Management LLC Purchases New Position in Citizens Financial Group, Inc. (NYSE:CFG)

AlphaStar Capital Management LLC acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,493 shares of the bank’s stock, valued at approximately $270,000.

Several other large investors have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its position in shares of Citizens Financial Group by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock worth $292,000 after purchasing an additional 305 shares in the last quarter. Czech National Bank grew its stake in Citizens Financial Group by 0.5% in the first quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after acquiring an additional 375 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Citizens Financial Group by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 96,350 shares of the bank’s stock worth $3,497,000 after acquiring an additional 382 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Citizens Financial Group by 3.6% in the first quarter. Bleakley Financial Group LLC now owns 11,027 shares of the bank’s stock worth $400,000 after acquiring an additional 385 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Citizens Financial Group by 1.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after purchasing an additional 393 shares during the period. Institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 5th. Evercore ISI boosted their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Stephens increased their target price on Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. dropped their price target on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.20.

Citizens Financial Group Stock Down 0.8 %

CFG traded down $0.36 during trading on Tuesday, reaching $42.35. 1,254,563 shares of the stock were exchanged, compared to its average volume of 5,401,779. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50 day moving average price is $38.97 and its two-hundred day moving average price is $35.84. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96. The stock has a market cap of $19.27 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts expect that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.97%. Citizens Financial Group’s dividend payout ratio is 60.87%.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

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.