ING Groep NV Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

ING Groep NV trimmed its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 59.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,184 shares of the bank’s stock after selling 33,685 shares during the period. ING Groep NV’s holdings in Citizens Financial Group were worth $952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $25,000. Costello Asset Management INC purchased a new stake in shares of Citizens Financial Group in the 3rd quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Citizens Financial Group in the 3rd quarter worth $27,000. Catalyst Capital Advisors LLC bought a new position in Citizens Financial Group in the 3rd quarter worth $28,000. Finally, Versant Capital Management Inc boosted its holdings in Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.4 %

Shares of NYSE CFG opened at $46.78 on Monday. The firm’s 50-day moving average price is $42.19 and its 200-day moving average price is $39.45. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.78 and a beta of 1.07. Citizens Financial Group, Inc. has a 12-month low of $26.13 and a 12-month high of $48.35.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The firm 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 business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 66.14%.

Wall Street Analyst Weigh In

CFG has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler upped their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI dropped their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Finally, Morgan Stanley upped their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $43.80.

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.