Citizens Financial Group (NYSE:CFG) Issues Earnings Results

Citizens Financial Group (NYSE:CFG) issued its quarterly earnings data on Thursday. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05, Zacks reports. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.

Citizens Financial Group Stock Up 1.2%

CFG stock opened at $71.16 on Thursday. The stock’s fifty day simple moving average is $66.04 and its two-hundred day simple moving average is $63.43. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Citizens Financial Group has a 1-year low of $45.90 and a 1-year high of $72.94. The stock has a market cap of $30.09 billion, a P/E ratio of 16.82, a P/E/G ratio of 0.58 and a beta of 0.67.

Insider Activity at Citizens Financial Group

In related 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 transaction, the insider directly owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Trading of Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC lifted its position in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after acquiring an additional 4,739 shares in the last quarter. Quarry LP boosted its stake in Citizens Financial Group by 598.6% in the 4th quarter. Quarry LP now owns 2,522 shares of the bank’s stock worth $147,000 after purchasing an additional 2,161 shares during the period. Johnson Financial Group Inc. increased its position in shares of Citizens Financial Group by 18.3% during the fourth quarter. Johnson Financial Group Inc. now owns 2,347 shares of the bank’s stock valued at $137,000 after buying an additional 363 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Citizens Financial Group by 7.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,122 shares of the bank’s stock worth $182,000 after buying an additional 216 shares in the last quarter. Finally, Zions Bancorporation National Association UT boosted its position in shares of Citizens Financial Group by 44.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,428 shares of the bank’s stock valued at $83,000 after acquiring an additional 439 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the subject of several recent research reports. Cantor Fitzgerald upped their price target on Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup downgraded shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial increased their target price on shares of Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Weiss Ratings raised shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, DA Davidson boosted their price target on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.60.

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.