Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lessened its position in Citizens Financial Group, Inc. (NYSE:CFG) by 4.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,090 shares of the bank’s stock after selling 468 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Citizens Financial Group were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Citizens Financial Group in the second quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares in the last quarter. Private Ocean LLC grew its holdings in Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after acquiring an additional 838 shares during the period. Ridgewood Investments LLC purchased a new position in Citizens Financial Group in the second quarter worth $48,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Citizens Financial Group in the second quarter valued at $48,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $41.82 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.07. Citizens Financial Group, Inc. has a one year low of $23.50 and a one year high of $44.39. The company has a 50 day moving average price of $41.52 and a 200 day moving average price of $38.67.

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 analysts’ consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. 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 posted $0.85 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.19 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s payout ratio is currently 66.14%.

Analysts Set New Price Targets

CFG has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group upped their price target on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays upped their target price on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, DA Davidson lifted their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Nine 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, the company currently has a consensus 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.