Hsbc Holdings PLC Boosts Stock Holdings in Citizens Financial Group, Inc. $CFG

Hsbc Holdings PLC increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,698,078 shares of the bank’s stock after purchasing an additional 118,777 shares during the quarter. Hsbc Holdings PLC owned 0.40% of Citizens Financial Group worth $118,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CFG. BlackRock Inc. purchased a new position in Citizens Financial Group in the second quarter worth approximately $3,415,046,000. Norges Bank acquired a new position in Citizens Financial Group during the 4th quarter worth approximately $355,909,000. Legal & General Group Plc purchased a new stake in shares of Citizens Financial Group in the 2nd quarter valued at approximately $207,234,000. AQR Capital Management LLC raised its holdings in shares of Citizens Financial Group by 56.9% in the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock valued at $451,075,000 after purchasing an additional 2,799,050 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth $175,948,000. 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 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 completion of the sale, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Down 0.5%

CFG opened at $69.86 on Wednesday. The firm has a market cap of $29.43 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The business’s 50 day moving average is $71.27 and its two-hundred day moving average is $65.62. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

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

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were issued a $0.46 dividend. 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 is presently 39.91%.

Analysts Set New Price Targets

A number of analysts have weighed in on CFG shares. Evercore restated an “outperform” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research note on Monday, July 6th. Citigroup raised their target price on Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Robert W. Baird upped their price target on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Truist Financial increased their price target on shares of Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Finally, Argus set a $80.00 price objective on shares of Citizens Financial Group in a report on Wednesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

About Citizens Financial Group

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.