AlphaStar Capital Management LLC Acquires New Position in Citizens Financial Group, Inc. (NYSE:CFG)

AlphaStar Capital Management LLC acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,493 shares of the bank's stock, valued at approximately $270,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC acquired a new position in shares of Citizens Financial Group during the second quarter worth $391,000. LRI Investments LLC increased its position in Citizens Financial Group by 16.7% during the 2nd quarter. LRI Investments LLC now owns 3,860 shares of the bank's stock valued at $139,000 after buying an additional 551 shares in the last quarter. My Legacy Advisors LLC acquired a new position in Citizens Financial Group during the 2nd quarter valued at about $975,000. 1620 Investment Advisors Inc. raised its stake in Citizens Financial Group by 13.6% in the second quarter. 1620 Investment Advisors Inc. now owns 8,400 shares of the bank's stock valued at $303,000 after buying an additional 1,004 shares during the last quarter. Finally, Lecap Asset Management Ltd. boosted its holdings in Citizens Financial Group by 13.0% in the second quarter. Lecap Asset Management Ltd. now owns 62,893 shares of the bank's stock worth $2,266,000 after acquiring an additional 7,223 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

Shares of CFG traded down $0.44 during trading hours on Tuesday, hitting $42.27. The stock had a trading volume of 4,177,471 shares, compared to its average volume of 5,419,494. The firm has a 50-day moving average price of $39.12 and a 200 day moving average price of $35.91. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The firm has a market capitalization of $19.23 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company's revenue was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group's dividend payout ratio (DPR) is presently 60.87%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the business's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now owns 33,620 shares of the company's stock, valued at $1,454,401.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CFG. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. UBS Group raised their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. StockNews.com raised shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Sunday, May 5th. Stephens raised their target price on Citizens Financial Group from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group boosted their price target on Citizens Financial Group from $43.00 to $49.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of "Hold" and an average price target of $42.20.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.