Commerce Bank Acquires Shares of 10,330 Citizens Financial Group, Inc. $CFG

Commerce Bank bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,330 shares of the bank’s stock, valued at approximately $724,000.

Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Citizens Financial Group in the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC purchased a new stake in Citizens Financial Group during the 1st quarter valued at about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group during the 4th quarter valued at about $29,000. Activest Wealth Management raised its holdings in 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 acquiring an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its holdings in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Activity at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction 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 approximately $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Citizens Financial Group Stock Up 0.9%

CFG stock opened at $70.48 on Thursday. The firm has a market cap of $29.68 billion, a PE ratio of 15.29, a PEG ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The firm’s 50 day moving average price is $71.34 and its 200-day moving average price is $65.65. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33.

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

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend 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 is 39.91%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CFG. Cantor Fitzgerald raised their target price on shares of Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Stephens upped their price target on 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. DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a report on Friday, August 14th. Argus set a $80.00 price objective on Citizens Financial Group in a research report on Wednesday, July 29th. Finally, UBS Group boosted their price objective on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.