Traders Buy High Volume of Call Options on Citizens Financial Group (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 5,041 call options on the stock. This is an increase of approximately 297% compared to the average volume of 1,269 call options.

Trending Headlines about Citizens Financial Group

Here are the key news stories impacting Citizens Financial Group this week:

• Positive Sentiment: Citizens Financial beat Q2 earnings estimates with EPS of $1.30 versus $1.25 expected, while revenue rose 12.1% year over year and net income climbed 35%, signaling solid operating momentum. Article title
• Positive Sentiment: Management’s raised net interest margin outlook added to optimism, suggesting profitability could improve further in coming quarters. Article title
• Positive Sentiment: Higher net interest income and fee income were key drivers of the profit jump, indicating stronger core banking revenue and healthier business trends. Article title
• Positive Sentiment: Citigroup? No—Cantor Fitzgerald raised its price target on CFG to $80 and reiterated an overweight rating, reinforcing a bullish analyst view after the results. Article title
• Neutral Sentiment: Unusual call option activity ahead of the earnings release suggests traders were positioning for upside, but it does not by itself change the company’s fundamentals.

Citizens Financial Group Stock Up 4.4%

NYSE CFG opened at $74.28 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $66.25 and a two-hundred day moving average of $63.53. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 0.59 and a beta of 0.67. Citizens Financial Group has a 52 week low of $45.90 and a 52 week high of $74.70.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.Citizens Financial Group’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. On average, analysts predict that Citizens Financial Group will post 5.22 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in Citizens Financial Group during the 1st quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group during the 4th quarter valued at about $29,000. Activest Wealth Management grew its stake in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the subject of several research analyst reports. Stephens started coverage on Citizens Financial Group in a report on Monday, June 15th. They set an “equal weight” rating for the company. JPMorgan Chase & Co. upped their price target on shares of Citizens Financial Group from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Truist Financial increased their price objective on shares of Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Cantor Fitzgerald lifted their price objective on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.10.

About Citizens Financial Group

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.