Y Intercept Hong Kong Ltd Trims Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 56.7% in the third quarter, HoldingsChannel reports. The firm owned 43,725 shares of the bank’s stock after selling 57,269 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Citizens Financial Group were worth $1,796,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Commerce Bank boosted its stake in shares of Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock valued at $541,000 after acquiring an additional 250 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Citizens Financial Group by 12.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock worth $84,000 after purchasing an additional 264 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Citizens Financial Group by 2.5% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 11,395 shares of the bank’s stock worth $468,000 after buying an additional 280 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in shares of Citizens Financial Group by 0.3% in the third quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock valued at $3,648,000 after buying an additional 308 shares during the last quarter. Finally, SYM FINANCIAL Corp lifted its stake in shares of Citizens Financial Group by 4.8% during the third quarter. SYM FINANCIAL Corp now owns 6,976 shares of the bank’s stock valued at $287,000 after buying an additional 322 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 1.0 %

NYSE CFG opened at $46.42 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a fifty-two week low of $29.16 and a fifty-two week high of $49.25. The business has a 50 day moving average price of $44.26 and a two-hundred day moving average price of $40.70. The stock has a market cap of $20.46 billion, a PE ratio of 18.28, a P/E/G ratio of 1.79 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lifted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Evercore ISI lowered their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada increased their target price on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Citigroup raised their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $46.94.

About Citizens Financial Group

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.