Maverick Capital Ltd. Buys Shares of 22,222 Citizens Financial Group, Inc. $CFG

Maverick Capital Ltd. bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,222 shares of the bank’s stock, valued at approximately $1,333,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Citizens Financial Group by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock worth $29,968,000 after buying an additional 25,180 shares in the last quarter. Geode Capital Management LLC grew its stake in Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after acquiring an additional 32,264 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Citizens Financial Group by 45.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after acquiring an additional 85,052 shares in the last quarter. Todd Asset Management LLC raised its holdings in Citizens Financial Group by 10.6% in the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after acquiring an additional 94,774 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Citizens Financial Group by 51.8% in the 4th quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after acquiring an additional 20,008 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $71.14 on Tuesday. The firm has a 50 day simple moving average of $67.68 and a 200-day simple moving average of $64.13. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a 1-year low of $45.90 and a 1-year high of $74.70.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. On average, analysts expect 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 will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

Wall Street Analyst Weigh In

CFG has been the topic of several recent research reports. Evercore restated an “outperform” rating and set a $80.00 target price on shares of Citizens Financial Group in a report on Monday, July 6th. Morgan Stanley increased their price target on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Barclays lifted their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Cantor Fitzgerald boosted their price objective on Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, UBS Group upped their target price on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and an average target price of $78.55.

Insider Buying and Selling

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group 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.