Ridgewood Investments LLC Buys New Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Ridgewood Investments LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,331 shares of the bank’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Citizens Financial Group by 35.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock worth $2,838,000 after acquiring an additional 20,649 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Citizens Financial Group by 101.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after buying an additional 383,947 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Citizens Financial Group by 96.3% during the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after buying an additional 1,212,642 shares in the last quarter. Duality Advisers LP bought a new position in shares of Citizens Financial Group during the 1st quarter worth approximately $1,180,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Citizens Financial Group in the 4th quarter worth approximately $5,965,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.62% of the stock is owned by company insiders.

Citizens Financial Group Price Performance

NYSE CFG traded up $0.06 during trading hours on Friday, hitting $42.74. The company had a trading volume of 894,312 shares, compared to its average volume of 5,404,398. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $19.45 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.46 and a beta of 1.10. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96. The firm has a 50 day simple moving average of $39.28 and a 200 day simple moving average of $35.96.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analyst Ratings Changes

A number of analysts recently commented on CFG shares. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Morgan Stanley raised their target price on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Piper Sandler increased 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. Finally, Royal Bank of Canada lifted their price objective on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Hold” and an average price target of $42.20.

Citizens Financial Group Company 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.