Heartland Bank & Trust Co Takes $663,000 Position in Citizens Financial Group, Inc. $CFG

Heartland Bank & Trust Co purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,460 shares of the bank’s stock, valued at approximately $663,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new stake in Citizens Financial Group in the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Citizens Financial Group during the 1st quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $29,000. Activest Wealth Management increased its holdings in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Activity

In related news, CEO Saun Bruce Van 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 transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CFG shares. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Stephens lifted their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Truist Financial upped their price target on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Argus set a $80.00 price objective on Citizens Financial Group in a research note on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group Price Performance

Shares of NYSE 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’s 50-day moving average price is $71.15 and its 200 day moving average price is $65.56. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The stock has a market cap of $29.42 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.53 and a beta of 0.67.

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

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend 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 Company 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.