Zurcher Kantonalbank Zurich Cantonalbank Buys 2,835 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Posted by Defense World Staff on Aug 15th, 2023

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,283 shares of the bank’s stock after acquiring an additional 2,835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Citizens Financial Group were worth $2,134,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Heritage Wealth Management LLC raised its position in shares of Citizens Financial Group by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock worth $25,000 after acquiring an additional 323 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Citizens Financial Group in the 4th quarter worth $28,000. Asset Dedication LLC raised its position in shares of Citizens Financial Group by 155.2% in the 1st quarter. Asset Dedication LLC now owns 809 shares of the bank’s stock worth $25,000 after acquiring an additional 492 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Citizens Financial Group by 483.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 875 shares of the bank’s stock valued at $34,000 after buying an additional 725 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in Citizens Financial Group during the 4th quarter valued at about $34,000. 88.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Terrance Lillis bought 1,000 shares of Citizens Financial Group stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $26.39 per share, with a total value of $26,390.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $79,170. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CFG. Bank of America lowered Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $33.00 in a research report on Thursday, April 20th. Royal Bank of Canada dropped their price target on Citizens Financial Group from $52.00 to $44.00 and set an “outperform” rating on the stock in a research note on Friday, June 30th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. TheStreet downgraded Citizens Financial Group from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $33.00 price target on shares of Citizens Financial Group in a research note on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Check Out Our Latest Stock Analysis on Citizens Financial Group

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $29.58 on Tuesday. The company has a market capitalization of $13.97 billion, a P/E ratio of 6.72 and a beta of 1.33. The business’s 50 day moving average is $28.70 and its two-hundred day moving average is $31.66. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.65. Citizens Financial Group, Inc. has a 12-month low of $23.37 and a 12-month high of $44.82.

Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Citizens Financial Group had a return on equity of 10.68% and a net margin of 20.41%. During the same quarter in the prior year, the company posted $1.14 EPS. Analysts expect that Citizens Financial Group, Inc. will post 3.86 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $1.68 dividend on an annualized basis and a yield of 5.68%. Citizens Financial Group’s dividend payout ratio is currently 38.18%.

About Citizens Financial Group

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.