Infrastructure Capital Advisors LLC Makes New $5.89 Million Investment in Citizens Financial Group, Inc. $CFG

Infrastructure Capital Advisors LLC bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 84,054 shares of the bank’s stock, valued at approximately $5,890,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after purchasing an additional 274 shares in the last quarter. Empowered Funds LLC increased its position in shares of Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after purchasing an additional 554 shares in the last quarter. Woodline Partners LP boosted its position in Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after buying an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Citizens Financial Group by 93.4% in the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after buying an additional 4,739 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Citizens Financial Group by 5.2% in the second quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock valued at $2,934,000 after buying an additional 3,225 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.0%

CFG opened at $69.84 on Monday. 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 fifty day moving average is $71.15 and its two-hundred day moving average is $65.57. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33. The firm has a market cap of $29.42 billion, a PE ratio of 15.15, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a dividend of $0.46 per share. 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 payout ratio is presently 39.91%.

Insider Activity

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the firm’s 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 sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CFG has been the topic of several recent analyst reports. Truist Financial boosted their target price on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Evercore reiterated an “outperform” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Jefferies Financial Group increased their target price on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus 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.