Insider Selling: Citizens Financial Group, Inc. (NYSE:CFG) Insider Sells 3,938 Shares of Stock

Citizens Financial Group, Inc. (NYSE:CFG) insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Citizens Financial Group Stock Down 0.0 %

Shares of NYSE:CFG traded down $0.01 during trading on Friday, hitting $43.23. The company’s stock had a trading volume of 5,772,798 shares, compared to its average volume of 5,510,781. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The stock’s 50-day moving average price is $36.36 and its two-hundred day moving average price is $34.52. The company has a market capitalization of $19.67 billion, a PE ratio of 15.80, a PEG ratio of 1.47 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CFG shares. Jefferies Financial Group lifted their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Wedbush lowered their price objective on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. DA Davidson lifted their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Stephens boosted their price target on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Piper Sandler boosted their price target on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.60.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFG. Raymond James & Associates grew its holdings in Citizens Financial Group by 19.7% in the 4th quarter. Raymond James & Associates now owns 377,711 shares of the bank’s stock worth $12,517,000 after buying an additional 62,207 shares in the last quarter. CVA Family Office LLC bought a new position in Citizens Financial Group during the 4th quarter valued at $40,000. Pacer Advisors Inc. boosted its stake in Citizens Financial Group by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 31,600 shares of the bank’s stock valued at $1,047,000 after purchasing an additional 635 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Citizens Financial Group by 10.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,095 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,223 shares in the last quarter. Finally, IFG Advisory LLC boosted its stake in Citizens Financial Group by 7.0% during the 4th quarter. IFG Advisory LLC now owns 10,662 shares of the bank’s stock valued at $353,000 after purchasing an additional 699 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

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.