Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total value 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. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Citizens Financial Group Stock Up 2.5%
Shares of NYSE:CFG opened at $72.91 on Wednesday. The stock has a 50-day simple moving average of $67.91 and a 200-day simple moving average of $64.22. The stock has a market capitalization of $30.83 billion, a P/E ratio of 15.82, a PEG ratio of 0.54 and a beta of 0.67. Citizens Financial Group, Inc. has a 1 year low of $45.90 and a 1 year high of $74.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86.
Citizens Financial Group (NYSE:CFG - Get Free Report) last posted 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%. Citizens Financial Group's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Equities analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.
Citizens Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. Citizens Financial Group's dividend payout ratio is presently 39.91%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. DA Davidson raised their price objective on Citizens Financial Group from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, July 17th. 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. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on Citizens Financial Group from $68.50 to $76.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of "Moderate Buy" and an average price target of $78.55.
Get Our Latest Report on CFG
Institutional Investors Weigh In On Citizens Financial Group
Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Citizens Financial Group during the 4th quarter valued at $355,909,000. AQR Capital Management LLC increased its position 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 worth $451,075,000 after purchasing an additional 2,799,050 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Citizens Financial Group by 89.4% in the 4th quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank's stock valued at $276,372,000 after purchasing an additional 2,232,806 shares in the last quarter. Amundi raised its stake in shares of Citizens Financial Group by 136.4% in the 4th quarter. Amundi now owns 3,513,388 shares of the bank's stock valued at $205,217,000 after purchasing an additional 2,027,255 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of Citizens Financial Group by 32.3% during the fourth quarter. Capital International Investors now owns 8,000,750 shares of the bank's stock worth $467,389,000 after purchasing an additional 1,953,372 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.
Citizens Financial Group Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
