McGlone Suttner Acquires $94K Stake in Citizens Financial Group

Institutional investors have made significant changes to their positions in Citizens Financial Group (CFG) in recent quarters. Notably, McGlone Suttner Wealth Management acquired 2,838 shares in the fourth quarter, and other hedge funds, such as Lindbrook Capital, Resurgent Financial Advisors, Clear Street Markets, and Authentikos Wealth Advisory, have also increased their stakes. Additionally, CVA Family Office established a new position in CFG in the fourth quarter. These institutional investors collectively own 94.90% of CFG's stock, highlighting their confidence in the company's long-term prospects.

McGlone Suttner Wealth Management Acquires Citizens Financial Group Shares

In a significant move during the fourth quarter, McGlone Suttner Wealth Management Inc. has acquired a new position in shares of Citizens Financial Group, Inc. (NYSE: CFG). The institutional investor purchased 2,838 shares of the bank's stock, with an approximate value of $94,000, as reported by Holdings Channel.com.

Institutional Activity in CFG Shares

Other hedge funds have also made adjustments to their positions in Citizens Financial Group. Lindbrook Capital LLC increased its stake by 100.8% in the third quarter, acquiring an additional 496 shares and now holding a total of 988 shares worth $26,000.

Resurgent Financial Advisors LLC initiated a new position in CFG during the fourth quarter, with an approximate value of $28,000.

Clear Street Markets LLC expanded its position by 93.6% in the first quarter, purchasing 466 additional shares and bringing its total holdings to 964 shares with a value of $29,000.

Authentikos Wealth Advisory LLC established a new stake in Citizens Financial Group during the third quarter, valued at approximately $40,000.

CVA Family Office LLC also initiated a new position in CFG in the fourth quarter, with an approximate value of $40,000.

Institutional investors and hedge funds collectively hold a substantial 94.90% of Citizens Financial Group's outstanding shares.

Citizens Financial Group Financial Performance

On Friday, Citizens Financial Group (NYSE: CFG) opened at a price of $36.29. The company's 50-day moving average is $32.84, and its 200-day moving average is $29.85. Over the past 12 months, its share price has ranged from a low of $22.77 to a high of $36.35.

Citizens Financial Group exhibits financial strength with a debt-to-equity ratio of 0.60, a current ratio of 0.88, and a quick ratio of 0.88. It has a market capitalization of $16.64 billion, a price-to-earnings (P/E) ratio of 11.67, and a beta of 1.36.

Earnings and Dividend Performance

Citizens Financial Group announced its quarterly earnings results on Wednesday, January 17th. The company reported earnings per share (EPS) of $0.34, falling short of the consensus estimate of $0.60 by $0.26. Citizens Financial Group achieved a return on equity of 7.40% and a net margin of 13.19%. Revenue for the quarter was $2 billion, in line with analyst expectations.

The bank has declared a quarterly dividend of $0.42 per share, payable to shareholders of record as of Wednesday, January 31st. The ex-dividend date was Tuesday, January 30th. This represents an annualizeddividend of $1.68 and a yield of 4.63%.

Analyst Ratings and Consensus

Several equities analysts have weighed in on CFG shares. TheStreet upgraded the stock from a "C+" to a "B-" rating on December 26th. Barclays downgraded the stock from "Overweight" to "Equal Weight" on January 2nd, while raising its price target from $38.00 to $40.00. Morgan Stanley also raised its price target from $31.00 to $39.00 on February 7th, maintaining an "Equal Weight" rating.

Evercore ISI raised its price target from $35.00 to $39.00 on Thursday, maintaining an "In-Line" rating. In contrast, Wedbush downgraded CFG shares from "Neutral" to "Sell" on January 18th and lowered its price target from $36.00 to $35.00.

According to MarketBeat.com, CFG currently carries a consensus rating of "Hold" with an average price target of $35.63.

Insider Activity

In a related development, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group on March 5th. The shares were sold at an average price of $33.54, resulting in a total transaction value of $151,198.32. Following the sale, Read now directly owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission (SEC), which can be accessed at this link. Notably, 0.62% of the company's stock is currently owned by insiders.

About Citizens Financial Group

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

Conclusion

The acquisition of shares in Citizens Financial Group by McGlone Suttner Wealth Management Inc. and other institutional investors highlights the confidence in the company's financial stability and growth prospects. Positive analyst ratings and insider ownership further reinforce the favorable outlook for CFG shares.