CVA Family Office LLC Reduces Stock Position in Citizens Financial Group, Inc. $CFG

CVA Family Office LLC decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 14.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,387 shares of the bank’s stock after selling 225 shares during the period. CVA Family Office LLC’s holdings in Citizens Financial Group were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CFG. Trust Co. of Vermont boosted its position in Citizens Financial Group by 177.5% during the second quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock worth $29,000 after purchasing an additional 410 shares in the last quarter. Investors Research Corp raised its stake in shares of Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after buying an additional 500 shares during the last quarter. REAP Financial Group LLC boosted its position in shares of Citizens Financial Group by 72.4% in the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after buying an additional 309 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Citizens Financial Group by 143.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock valued at $44,000 after acquiring an additional 634 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Citizens Financial Group during the 1st quarter valued at about $46,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 2.5%

Shares of Citizens Financial Group stock opened at $52.22 on Monday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $55.24. The business’s fifty day moving average is $51.64 and its two-hundred day moving average is $45.78. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $22.52 billion, a PE ratio of 14.63, a P/E/G ratio of 0.56 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, October 29th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s payout ratio is currently 47.06%.

Analyst Ratings Changes

Several brokerages have issued reports on CFG. Truist Financial reduced their price target on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Raymond James Financial set a $62.00 target price on Citizens Financial Group and gave the company a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Citizens Financial Group in a research report on Friday. JPMorgan Chase & Co. raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $48.50 to $52.00 in a report on Friday, August 1st. Finally, DA Davidson reaffirmed a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

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.