Hsbc Holdings PLC Boosts Stock Holdings in Citizens Financial Group, Inc. $CFG

Hsbc Holdings PLC grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,698,078 shares of the bank’s stock after purchasing an additional 118,777 shares during the period. Hsbc Holdings PLC’s holdings in Citizens Financial Group were worth $118,981,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Parallel Advisors LLC grew its holdings in Citizens Financial Group by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after acquiring an additional 172 shares during the period. Inscription Capital LLC lifted its holdings in Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock valued at $637,000 after acquiring an additional 175 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of Citizens Financial Group by 0.9% during the 4th quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after purchasing an additional 175 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Citizens Financial Group by 3.7% during the 4th quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock worth $308,000 after purchasing an additional 187 shares in the last quarter. Finally, Summit Financial LLC grew its stake in shares of Citizens Financial Group by 2.5% during the 4th quarter. Summit Financial LLC now owns 7,719 shares of the bank’s stock worth $451,000 after purchasing an additional 187 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

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 dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CFG shares. Jefferies Financial Group raised their price objective on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Robert W. Baird lifted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Finally, Cantor Fitzgerald raised their price objective on Citizens Financial Group from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Citizens Financial Group Trading Down 0.5%

Shares of Citizens Financial Group stock opened at $69.86 on Wednesday. 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. The business has a 50 day moving average price of $71.27 and a 200 day moving average price of $65.62. The company has a market capitalization of $29.43 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.54 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the business posted $0.92 earnings per share. Citizens Financial Group’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group’s 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.