OP Asset Management Ltd Invests $2.69 Million in Citizens Financial Group, Inc. $CFG

OP Asset Management Ltd acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 44,853 shares of the bank’s stock, valued at approximately $2,690,000.

A number of other large investors also recently modified their holdings of the company. Parallel Advisors LLC increased its stake in Citizens Financial Group by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after buying an additional 172 shares in the last quarter. AA Financial Advisors LLC lifted its position in shares of Citizens Financial Group by 3.9% in the fourth quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock valued at $272,000 after acquiring an additional 174 shares in the last quarter. Inscription Capital LLC boosted its stake in shares of Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after acquiring an additional 175 shares during the period. Clear Harbor Asset Management LLC boosted its stake in shares of Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after acquiring an additional 175 shares during the period. Finally, Grove Bank & Trust grew its position in shares of Citizens Financial Group by 19.8% during the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock worth $65,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CFG. Royal Bank Of Canada lifted their target price on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Citizens Financial Group in a research report on Tuesday, June 9th. Robert W. Baird raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Monday, March 9th. DA Davidson lifted their price target on shares of Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Citigroup increased their price objective on shares of Citizens Financial Group from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.36.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

Citizens Financial Group Stock Down 0.5%

Shares of CFG opened at $70.33 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $29.74 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 0.56 and a beta of 0.68. Citizens Financial Group, Inc. has a 1 year low of $44.03 and a 1 year high of $71.21. The business’s 50 day simple moving average is $64.54 and its 200-day simple moving average is $62.29.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm posted $0.77 earnings per share. Citizens Financial Group’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 43.50%.

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.