Everence Capital Management Inc. Sells 6,730 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Everence Capital Management Inc. lowered its position in Citizens Financial Group, Inc. (NYSE:CFG) by 34.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,820 shares of the bank’s stock after selling 6,730 shares during the period. Everence Capital Management Inc.’s holdings in Citizens Financial Group were worth $561,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Costello Asset Management INC acquired a new position in Citizens Financial Group in the third quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at about $27,000. Catalyst Capital Advisors LLC bought a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $48,000. Finally, Friedenthal Financial acquired a new stake in Citizens Financial Group during the third quarter worth approximately $50,000. 94.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. DA Davidson increased their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Raymond James raised shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler increased their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Citigroup boosted their target price on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Citizens Financial Group Price Performance

CFG opened at $44.56 on Friday. Citizens Financial Group, Inc. has a 1 year low of $30.24 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $19.64 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.76 and a beta of 1.10. The firm’s fifty day moving average price is $45.28 and its two-hundred day moving average price is $41.90.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.77%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 66.14%.

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.