Richardson Financial Services Inc. Decreases Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Richardson Financial Services Inc. lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,150 shares of the bank’s stock after selling 580 shares during the quarter. Richardson Financial Services Inc.’s holdings in Citizens Financial Group were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Seven Eight Capital LP acquired a new stake in shares of Citizens Financial Group in the second quarter valued at approximately $1,685,000. Hsbc Holdings PLC raised its position in Citizens Financial Group by 1.7% in the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock worth $99,448,000 after acquiring an additional 45,038 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new stake in shares of Citizens Financial Group in the second quarter valued at about $1,425,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Citizens Financial Group by 22.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 54,203 shares of the bank’s stock valued at $1,953,000 after acquiring an additional 9,850 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Citizens Financial Group by 3.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,778 shares of the bank’s stock worth $568,000 after purchasing an additional 458 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 3.7 %

Shares of CFG opened at $42.21 on Friday. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $43.96. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.42 and a beta of 1.08. The company has a 50-day moving average price of $41.06 and a two-hundred day moving average price of $37.04. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

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). 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 for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the business earned $0.92 EPS. Citizens Financial Group’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.98%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CFG shares. Morgan Stanley upped their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. DA Davidson upped their price target 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. Raymond James began coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating for the company. Finally, UBS Group increased their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.20.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Citizens Financial Group 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.