Key Points
- Insider selling: Citizens Financial Group insider Michelle Moosally sold 6,050 shares at $62.16 each, totaling about $376,068. After the sale, she still held 22,565 shares, a 21.14% reduction in her ownership.
- Strong recent results: The bank beat first-quarter earnings expectations, reporting $1.13 per share versus $1.10 expected, while revenue of $2.17 billion also edged above forecasts and rose 12% year over year.
- Dividend and analyst backdrop: Citizens recently paid a quarterly dividend of $0.46 per share, or $1.84 annualized, for a 3.0% yield. Analysts remain broadly positive, with 19 Buy ratings and an average price target of $70.88.
Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares of the company's stock, valued at $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Citizens Financial Group Trading Up 1.2%
Shares of CFG stock opened at $61.13 on Friday. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 0.48 and a beta of 0.70. The company's fifty day simple moving average is $61.39 and its two-hundred day simple moving average is $59.64. Citizens Financial Group, Inc. has a 1 year low of $38.80 and a 1 year high of $68.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84.
Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current year.
Citizens Financial Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group's payout ratio is presently 43.50%.
Institutional Investors Weigh In On Citizens Financial Group
A number of large investors have recently added to or reduced their stakes in CFG. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Citizens Financial Group by 34.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 664,705 shares of the bank's stock worth $39,862,000 after purchasing an additional 169,726 shares during the last quarter. Compound Planning Inc. increased its position in shares of Citizens Financial Group by 17.4% during the 1st quarter. Compound Planning Inc. now owns 7,222 shares of the bank's stock valued at $433,000 after purchasing an additional 1,072 shares during the last quarter. Klingman & Associates LLC raised its holdings in shares of Citizens Financial Group by 7.0% during the 1st quarter. Klingman & Associates LLC now owns 456,878 shares of the bank's stock valued at $27,399,000 after buying an additional 29,861 shares in the last quarter. Sei Investments Co. lifted its position in Citizens Financial Group by 6.7% in the 1st quarter. Sei Investments Co. now owns 349,068 shares of the bank's stock worth $20,937,000 after buying an additional 21,987 shares during the last quarter. Finally, State of Wyoming boosted its stake in Citizens Financial Group by 166.0% in the first quarter. State of Wyoming now owns 4,774 shares of the bank's stock worth $286,000 after buying an additional 2,979 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on CFG shares. TD Cowen increased their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. DA Davidson boosted their price objective on shares of Citizens Financial Group from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Argus boosted 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. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.88.
Get Our Latest Stock Report on Citizens Financial Group
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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