Peapack Gladstone Financial Corp Sells 775 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Peapack Gladstone Financial Corp reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 126,696 shares of the bank’s stock after selling 775 shares during the period. Peapack Gladstone Financial Corp’s holdings in Citizens Financial Group were worth $4,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CFG. Wellington Management Group LLP raised its stake in Citizens Financial Group by 217.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after acquiring an additional 5,465,824 shares during the period. Norges Bank bought a new stake in shares of Citizens Financial Group during the fourth quarter valued at about $117,372,000. AQR Capital Management LLC increased its position in shares of Citizens Financial Group by 1,213.2% during the third quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock valued at $100,395,000 after buying an additional 3,460,792 shares during the period. Hsbc Holdings PLC increased its position in shares of Citizens Financial Group by 96.3% during the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after buying an additional 1,212,642 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Citizens Financial Group by 130.0% during the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock valued at $64,796,000 after buying an additional 1,105,011 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Price Performance

CFG traded down $0.55 during midday trading on Tuesday, hitting $34.17. The stock had a trading volume of 5,297,846 shares, compared to its average volume of 5,353,501. The company has a market cap of $15.55 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10. The business has a fifty day moving average of $35.03 and a 200 day moving average of $32.98. 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, Inc. has a 1 year low of $22.77 and a 1 year high of $37.30.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 EPS. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 3.15 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.42 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.92%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Analyst Ratings Changes

CFG has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Wedbush decreased their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Evercore ISI upped their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Argus upped their price target on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.73.

Insider Activity at Citizens Financial Group

In related news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.62% of the stock is owned by corporate insiders.

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.