Citizens Financial Group, Inc. (NYSE:CFG) Insider Craig Jack Read Sells 6,327 Shares

Citizens Financial Group, Inc. (NYSE:CFG) insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a filing with the SEC, which is available at this link.

Craig Jack Read also recently made the following trade(s):

• On Tuesday, March 5th, Craig Jack Read sold 4,508 shares of Citizens Financial Group stock. The stock was sold at an average price of $33.54, for a total value of $151,198.32.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $34.55 on Tuesday. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 12.52 and a beta of 1.38. The firm has a fifty day moving average price of $33.37 and a 200 day moving average price of $30.77. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $36.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Analysts Set New Price Targets

Several brokerages have issued reports on CFG. Royal Bank of Canada raised their target price on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Financial Group lifted their price target on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Wedbush reduced their price objective on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Finally, TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and a consensus target price of $35.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CFG. National Bank of Canada FI lifted its position in Citizens Financial Group by 24.8% during the third quarter. National Bank of Canada FI now owns 100,892 shares of the bank’s stock valued at $2,614,000 after purchasing an additional 20,061 shares during the last quarter. CWM LLC lifted its holdings in shares of Citizens Financial Group by 28.3% in the 3rd quarter. CWM LLC now owns 17,272 shares of the bank’s stock valued at $463,000 after acquiring an additional 3,815 shares during the last quarter. Kentucky Retirement Systems bought a new stake in Citizens Financial Group during the third quarter worth approximately $1,002,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Citizens Financial Group during the third quarter valued at approximately $447,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Citizens Financial Group by 336.3% in the 3rd quarter. Global Retirement Partners LLC now owns 1,693 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,305 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

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.