Allspring Global Investments Holdings LLC Sells 2,662 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Allspring Global Investments Holdings LLC lowered its position in Citizens Financial Group, Inc. (NYSE:CFG) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,425 shares of the bank’s stock after selling 2,662 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Citizens Financial Group worth $15,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new stake in Citizens Financial Group during the 2nd quarter worth about $25,000. Versant Capital Management Inc grew its stake in shares of 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 during the last quarter. Private Ocean LLC increased its holdings 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 valued at $36,000 after purchasing an additional 838 shares in the last quarter. Ridgewood Investments LLC bought a new position in Citizens Financial Group in the 2nd quarter worth approximately $48,000. Finally, Atlas Capital Advisors LLC acquired a new position in Citizens Financial Group during the 2nd quarter worth $48,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. DA Davidson lifted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI cut their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.80.

Citizens Financial Group Stock Performance

CFG opened at $41.51 on Friday. The business’s 50-day simple moving average is $41.45 and its 200 day simple moving average is $38.24. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $44.39. 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 firm has a market capitalization of $18.89 billion, a PE ratio of 15.04, a PEG ratio of 1.42 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

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.