First Hawaiian Bank Sells 746 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

First Hawaiian Bank cut its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,689 shares of the bank’s stock after selling 746 shares during the quarter. First Hawaiian Bank’s holdings in Citizens Financial Group were worth $890,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CFG. Norges Bank bought a new position in Citizens Financial Group during the fourth quarter valued at $117,372,000. Capital International Investors grew its position in Citizens Financial Group by 4.4% during the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after acquiring an additional 1,552,333 shares during the last quarter. Hsbc Holdings PLC increased its stake in Citizens Financial Group by 96.3% in the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after purchasing an additional 1,212,642 shares during the period. Franklin Resources Inc. lifted its position in Citizens Financial Group by 130.0% in the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock valued at $64,796,000 after purchasing an additional 1,105,011 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Citizens Financial Group by 163.9% in the fourth quarter. KBC Group NV now owns 1,352,602 shares of the bank’s stock worth $44,825,000 after purchasing an additional 840,103 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Price Performance

Shares of NYSE:CFG traded up $0.98 on Tuesday, reaching $39.28. The company’s stock had a trading volume of 2,936,094 shares, compared to its average volume of 5,537,313. The company has a market cap of $17.87 billion, a P/E ratio of 14.20, a PEG ratio of 1.46 and a beta of 1.10. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50-day simple moving average of $37.12 and a 200 day simple moving average of $35.00.

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

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wedbush dropped their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Jefferies Financial Group raised their price target on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada lifted their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Citigroup increased their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, UBS Group raised their target price on Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.20.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

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.