Citizens Financial Group, Inc. (NYSE:CFG) Insider Sells $170,357.88 in Stock

Citizens Financial Group, Inc. (NYSE:CFG) insider Craig Jack Read sold 3,938 shares of Citizens Financial Group 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink.

Citizens Financial Group Stock Down 0.0 %

NYSE:CFG opened at $43.23 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $43.96. The stock’s fifty day simple moving average is $36.48 and its 200-day simple moving average is $34.60. The firm has a market capitalization of $19.67 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.55 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last issued its 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). The company had revenue of $1.96 billion for 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 quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company 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 annualized dividend and a yield of 3.89%. The ex-dividend date is Wednesday, July 31st. Citizens Financial Group’s payout ratio is presently 60.87%.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. HB Wealth Management LLC increased its position in shares of Citizens Financial Group by 14.1% in the 2nd quarter. HB Wealth Management LLC now owns 12,708 shares of the bank’s stock valued at $458,000 after buying an additional 1,568 shares in the last quarter. AlphaStar Capital Management LLC bought a new stake in shares of Citizens Financial Group in the second quarter worth about $270,000. Verdence Capital Advisors LLC bought a new stake in shares of Citizens Financial Group in the second quarter worth about $391,000. LRI Investments LLC raised its position in shares of Citizens Financial Group by 16.7% during the second quarter. LRI Investments LLC now owns 3,860 shares of the bank’s stock worth $139,000 after purchasing an additional 551 shares during the period. Finally, My Legacy Advisors LLC bought a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $975,000. 94.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CFG. Citigroup boosted their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wedbush decreased their target price on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Morgan Stanley lifted their price target on Citizens Financial Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lowered their price objective on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Argus upped their target price on shares of Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.60.

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.