Amalgamated Bank Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Amalgamated Bank lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,669 shares of the bank’s stock after selling 7,743 shares during the quarter. Amalgamated Bank’s holdings in Citizens Financial Group were worth $5,212,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CFG. Innealta Capital LLC purchased a new stake in Citizens Financial Group during the 2nd quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in shares of Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $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 during the last quarter. Quarry LP increased its holdings 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 valued at $37,000 after purchasing an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Citizens Financial Group during the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the company’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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price 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 stock an “outperform” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Evercore ISI raised their price target on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Piper Sandler upped their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.20.

Citizens Financial Group Stock Down 1.3 %

CFG stock opened at $41.65 on Friday. The stock has a market cap of $18.95 billion, a P/E ratio of 15.09, a PEG ratio of 1.42 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96. The company’s 50 day moving average is $41.13 and its two-hundred day moving average is $37.11.

Citizens Financial Group (NYSE:CFG) last posted 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). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Research analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 4.03%. Citizens Financial Group’s dividend payout ratio (DPR) is 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.