Covestor Ltd Sells 392 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Covestor Ltd reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 12.2% during the third quarter, HoldingsChannel.com reports. The fund owned 2,821 shares of the bank’s stock after selling 392 shares during the quarter. Covestor Ltd’s holdings in Citizens Financial Group were worth $116,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. increased its holdings in shares of Citizens Financial Group by 12.7% in the second 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. Dorsey & Whitney Trust CO LLC increased its stake in Citizens Financial Group by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock worth $292,000 after acquiring an additional 305 shares during the last quarter. ZWJ Investment Counsel Inc. raised its holdings in shares of Citizens Financial Group by 0.3% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock worth $3,648,000 after acquiring an additional 308 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Citizens Financial Group by 11.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 3,250 shares of the bank’s stock valued at $117,000 after acquiring an additional 334 shares during the last quarter. Finally, Tealwood Asset Management Inc. grew its holdings in shares of Citizens Financial Group by 0.8% in the third quarter. Tealwood Asset Management Inc. now owns 43,059 shares of the bank’s stock valued at $1,768,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $46.40 on Wednesday. The firm’s 50 day simple moving average is $41.80 and its 200-day simple moving average is $39.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group, Inc. has a one year low of $24.73 and a one year high of $48.35. The firm has a market cap of $20.45 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.85 EPS. Citizens Financial Group’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on CFG shares. Morgan Stanley increased their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. UBS Group lifted their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Stephens raised their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Piper Sandler boosted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.80.

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.