Goelzer Investment Management Inc. Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Goelzer Investment Management Inc. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 206,300 shares of the bank’s stock after selling 3,407 shares during the period. Goelzer Investment Management Inc.’s holdings in Citizens Financial Group were worth $8,473,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Innealta Capital LLC purchased a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $25,000. Versant Capital Management Inc lifted its holdings in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares in the last quarter. Private Ocean LLC boosted its position in shares of Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after purchasing an additional 838 shares during the period. Quarry LP increased its stake in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $48,000. Institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CFG shares. Evercore ISI dropped their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday. UBS Group upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Piper Sandler lifted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.07.

Insider Activity at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the firm’s 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 completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by insiders.

Citizens Financial Group Trading Up 2.9 %

CFG stock traded up $1.15 during midday trading on Friday, reaching $41.18. 4,677,875 shares of the company traded hands, compared to its average volume of 5,383,117. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.43 and a beta of 1.07. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The business has a 50 day moving average of $40.97 and a 200-day moving average of $37.58. 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 (NYSE:CFG) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share 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 analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

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.