SeaCrest Wealth Management LLC Has $1.03 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

SeaCrest Wealth Management LLC lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,481 shares of the bank’s stock after buying an additional 460 shares during the period. SeaCrest Wealth Management LLC’s holdings in Citizens Financial Group were worth $1,026,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC bought a new position in Citizens Financial Group in the second quarter valued at approximately $386,000. Nisa Investment Advisors LLC grew its stake in shares of Citizens Financial Group by 27.8% in the second quarter. Nisa Investment Advisors LLC now owns 91,862 shares of the bank’s stock valued at $3,310,000 after buying an additional 20,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Citizens Financial Group by 4.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,954 shares of the bank’s stock worth $431,000 after buying an additional 494 shares during the last quarter. Gradient Investments LLC raised its position in Citizens Financial Group by 352.8% during the second quarter. Gradient Investments LLC now owns 2,581 shares of the bank’s stock worth $93,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Citizens Financial Group by 62.1% in the second quarter. Blue Trust Inc. now owns 5,011 shares of the bank’s stock valued at $182,000 after acquiring an additional 1,920 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock traded down $0.28 on Tuesday, reaching $41.32. 1,323,256 shares of the company traded hands, compared to its average volume of 5,449,687. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $18.80 billion, a PE ratio of 15.07, a PEG ratio of 1.46 and a beta of 1.10. The company has a 50 day moving average of $38.22 and a 200 day moving average of $35.48. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96.

Citizens Financial Group (NYSE:CFG) last announced its 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). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. Citizens Financial Group’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CFG. Stephens upped their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Piper Sandler upped their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada raised their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley upped their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.20.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now directly 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 SEC, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group 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.