MBB Public Markets I LLC Acquires Shares of 34,225 Citizens Financial Group, Inc. (NYSE:CFG)

MBB Public Markets I LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,225 shares of the bank's stock, valued at approximately $1,233,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank's stock worth $155,909,000 after purchasing an additional 1,682,886 shares during the last quarter. Capital International Investors raised its position in shares of Citizens Financial Group by 4.4% during the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank's stock worth $1,332,185,000 after purchasing an additional 1,552,333 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Citizens Financial Group by 3,234.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank's stock worth $39,669,000 after purchasing an additional 1,067,971 shares during the last quarter. National Bank of Canada FI raised its position in shares of Citizens Financial Group by 680.1% during the 2nd quarter. National Bank of Canada FI now owns 803,919 shares of the bank's stock worth $28,804,000 after purchasing an additional 700,860 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Citizens Financial Group by 15.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank's stock worth $159,550,000 after purchasing an additional 587,115 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Down 2.8 %

Citizens Financial Group stock traded down $1.16 during trading on Tuesday, reaching $39.91. 5,415,188 shares of the company's stock were exchanged, compared to its average volume of 5,399,405. The company's 50-day moving average is $41.17 and its two-hundred day moving average is $37.44. 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, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.43 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.95 billion. During the same period last year, the company posted $0.92 earnings per share. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.21%. Citizens Financial Group's dividend payout ratio (DPR) is 60.87%.

Analyst Ratings Changes

Several brokerages recently issued reports on CFG. Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a "market perform" rating in a research report on Monday. Raymond James started coverage on Citizens Financial Group in a report on Thursday, July 11th. They issued a "market perform" rating for the company. Royal Bank of Canada boosted their price target on Citizens Financial Group from $35.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, July 18th. DA Davidson boosted their price target on Citizens Financial Group from $41.00 to $46.00 and gave the company a "buy" rating in a report on Thursday, July 18th. 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 report on Thursday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.60.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 3,938 shares of the company's stock in a transaction on 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 directly owns 33,620 shares of the company's stock, valued at approximately $1,454,401.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Company Profile

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.