Deutsche Bank AG Makes New Investment in Citizens Financial Group, Inc. $CFG

Deutsche Bank AG acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,484,768 shares of the bank’s stock, valued at approximately $174,108,000.

Other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Citizens Financial Group during the 1st quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Citizens Financial Group in the 4th quarter valued at about $29,000. Activest Wealth Management boosted its holdings in Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on CFG shares. Citigroup increased their target price on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. Evercore reiterated an “outperform” rating and set a $80.00 price target on shares of Citizens Financial Group in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Finally, Truist Financial lifted their target price on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $79.05.

Citizens Financial Group Trading Down 1.2%

Shares of Citizens Financial Group stock opened at $73.45 on Wednesday. The stock has a market cap of $30.94 billion, a P/E ratio of 15.93, a P/E/G ratio of 0.57 and a beta of 0.67. The stock’s 50 day simple moving average is $70.92 and its 200-day simple moving average is $65.43. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is presently 39.91%.

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.