Citizens Financial Group Inc (NYSE:CFG) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 8,891,001 shares, a drop of 28.8% from the January 15th total of 12,489,651 shares. Based on an average daily volume of 5,379,774 shares, the short-interest ratio is currently 1.7 days. Approximately 1.9% of the shares of the stock are short sold.
NYSE:CFG opened at $36.31 on Thursday. Citizens Financial Group has a one year low of $27.62 and a one year high of $46.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.59 and a beta of 1.42.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, January 18th. The bank reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. Citizens Financial Group had a return on equity of 8.67% and a net margin of 23.20%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, analysts predict that Citizens Financial Group will post 3.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, January 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.27. Citizens Financial Group’s dividend payout ratio (DPR) is currently 35.96%.
Several research firms have commented on CFG. Zacks Investment Research cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup upgraded Citizens Financial Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, January 9th. Goldman Sachs Group upgraded Citizens Financial Group to a “buy” rating and dropped their target price for the stock from $44.00 to $40.00 in a research note on Monday, January 7th. Barclays lowered their price target on Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Finally, Royal Bank of Canada raised shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.91.
In related news, Director Shivan S. Subramaniam acquired 3,000 shares of the stock in a transaction on Wednesday, November 21st. The stock was purchased at an average price of $35.32 per share, for a total transaction of $105,960.00. Following the transaction, the director now owns 38,963 shares of the company’s stock, valued at approximately $1,376,173.16. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CFG. BlackRock Inc. grew its position in Citizens Financial Group by 2.9% in the third quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock worth $1,636,839,000 after acquiring an additional 1,208,420 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Citizens Financial Group by 14.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after purchasing an additional 2,189,838 shares in the last quarter. LSV Asset Management grew its position in Citizens Financial Group by 9.0% in the 4th quarter. LSV Asset Management now owns 9,171,729 shares of the bank’s stock worth $272,675,000 after purchasing an additional 759,769 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 6,302,325 shares of the bank’s stock valued at $187,048,000 after acquiring an additional 398,877 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Citizens Financial Group by 0.5% in the 4th quarter. Northern Trust Corp now owns 5,679,565 shares of the bank’s stock valued at $168,853,000 after acquiring an additional 25,554 shares in the last quarter. 96.94% of the stock is owned by institutional investors and hedge funds.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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