Interval Partners LP Buys New Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Interval Partners LP purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 256,282 shares of the bank’s stock, valued at approximately $9,300,000. Interval Partners LP owned about 0.06% of Citizens Financial Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $117,372,000. Capital International Investors boosted its position in Citizens Financial Group by 4.4% in 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 in the last quarter. Hsbc Holdings PLC grew its stake in shares of Citizens Financial Group by 96.3% during the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after purchasing an additional 1,212,642 shares during the period. Franklin Resources Inc. increased its holdings in shares of Citizens Financial Group by 130.0% during the 4th quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock valued at $64,796,000 after purchasing an additional 1,105,011 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Citizens Financial Group by 163.9% in the 4th quarter. KBC Group NV now owns 1,352,602 shares of the bank’s stock valued at $44,825,000 after purchasing an additional 840,103 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CFG. The Goldman Sachs Group lifted their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Wedbush lowered their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their target price on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup lifted their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.60.

Citizens Financial Group Price Performance

NYSE CFG traded up $0.18 during trading hours on Tuesday, hitting $43.18. 5,560,802 shares of the company’s stock traded hands, compared to its average volume of 5,530,791. The company has a market capitalization of $19.65 billion, a PE ratio of 15.77, a PEG ratio of 1.55 and a beta of 1.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The firm’s 50-day moving average is $36.61 and its 200-day moving average is $34.68.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company earned $0.92 earnings per share. Citizens Financial Group’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

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.