Key Points
- Susan Lamonica, an insider at Citizens Financial Group, sold 13,258 shares on March 11 at an average of $58.04 for about $769,494, trimming her stake by 7.40% to 165,971 shares valued near $9.63 million.
- CFG traded at $56.26 (below its 50-day MA of $62.48 but near the 200-day MA of $56.57); the bank reported quarterly EPS of $1.13 (beating estimates) and pays a quarterly dividend of $0.46 (annualized $1.84) for a 3.3% yield.
- Wall Street is largely positive—20 Buys and 1 Hold—with a consensus target price of $69.95, and institutional investors own about 94.9% of the company's stock.
Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Citizens Financial Group Price Performance
CFG stock traded down $0.68 on Friday, reaching $56.26. 1,852,828 shares of the company's stock were exchanged, compared to its average volume of 5,573,256. The stock has a fifty day moving average of $62.48 and a 200-day moving average of $56.57. The firm has a market cap of $23.91 billion, a PE ratio of 14.53, a P/E/G ratio of 0.48 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $68.79.
Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.Citizens Financial Group's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.
Citizens Financial Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group's dividend payout ratio (DPR) is currently 47.55%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Jefferies Financial Group restated a "buy" rating and set a $80.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 21st. Argus lifted their price target on shares of Citizens Financial Group from $60.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Barclays set a $77.00 price target on Citizens Financial Group and gave the stock an "overweight" rating in a research note on Monday, January 5th. JPMorgan Chase & Co. raised their price objective on Citizens Financial Group from $62.50 to $71.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, January 22nd. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.95.
Check Out Our Latest Research Report on Citizens Financial Group
Hedge Funds Weigh In On Citizens Financial Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $29,000. Activest Wealth Management lifted its stake in Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after buying an additional 504 shares in the last quarter. True Wealth Design LLC grew its holdings in Citizens Financial Group by 891.5% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank's stock valued at $31,000 after buying an additional 526 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in Citizens Financial Group during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 94.90% of the company's stock.
About Citizens Financial Group
(
Get Free Report)
Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.
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