AlphaStar Capital Management LLC Invests $270,000 in Citizens Financial Group, Inc. (NYSE:CFG)

AlphaStar Capital Management LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 7,493 shares of the bank’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC bought a new position in shares of Citizens Financial Group during the second quarter valued at $391,000. LRI Investments LLC grew its position in Citizens Financial Group by 16.7% during the 2nd quarter. LRI Investments LLC now owns 3,860 shares of the bank’s stock valued at $139,000 after purchasing an additional 551 shares during the last quarter. My Legacy Advisors LLC bought a new stake in Citizens Financial Group during the 2nd quarter valued at about $975,000. 1620 Investment Advisors Inc. raised its holdings in Citizens Financial Group by 13.6% in the second quarter. 1620 Investment Advisors Inc. now owns 8,400 shares of the bank’s stock worth $303,000 after buying an additional 1,004 shares during the last quarter. Finally, Lecap Asset Management Ltd. lifted its stake in shares of Citizens Financial Group by 13.0% in the second quarter. Lecap Asset Management Ltd. now owns 62,893 shares of the bank’s stock worth $2,266,000 after buying an additional 7,223 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Raymond James assumed coverage on Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating on the stock. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. DA Davidson increased their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group lifted their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.20.

Citizens Financial Group Stock Performance

CFG traded down $0.36 during trading on Tuesday, hitting $42.35. The company’s stock had a trading volume of 1,254,563 shares, compared to its average volume of 5,401,779. Citizens Financial Group, Inc. has a one year low of $22.77 and a one year high of $43.96. The business’s 50 day simple moving average is $38.97 and its 200-day simple moving average is $35.84. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm has a market cap of $19.27 billion, a PE ratio of 15.40, a P/E/G ratio of 1.46 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.97%. Citizens Financial Group’s payout ratio is 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.