Citizens Financial Group Inc (NYSE:CFG) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 10,396,000 shares, a decline of 22.8% from the June 30th total of 13,461,100 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 4,270,000 shares, the short-interest ratio is currently 2.4 days.
Shares of CFG traded down $1.48 during trading hours on Wednesday, hitting $31.65. 361,288 shares of the stock traded hands, compared to its average volume of 4,538,981. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.55. Citizens Financial Group has a 1-year low of $27.62 and a 1-year high of $41.76. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.96 and a beta of 1.45. The firm has a fifty day simple moving average of $35.53.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. Citizens Financial Group had a return on equity of 8.94% and a net margin of 22.61%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts expect that Citizens Financial Group will post 3.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.32. Citizens Financial Group’s dividend payout ratio is currently 40.45%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Citizens Financial Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 51,389,678 shares of the bank’s stock worth $1,817,139,000 after acquiring an additional 492,162 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Citizens Financial Group by 4.2% during the first quarter. BlackRock Inc. now owns 43,794,858 shares of the bank’s stock worth $1,423,333,000 after buying an additional 1,753,064 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Citizens Financial Group by 2.1% during the second quarter. Invesco Ltd. now owns 21,632,377 shares of the bank’s stock worth $764,921,000 after buying an additional 449,026 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Citizens Financial Group by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 18,633,845 shares of the bank’s stock worth $605,600,000 after buying an additional 823,732 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Citizens Financial Group by 0.4% during the second quarter. LSV Asset Management now owns 9,282,568 shares of the bank’s stock worth $328,231,000 after buying an additional 36,539 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.
A number of analysts have recently issued reports on CFG shares. UBS Group cut Citizens Financial Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $38.00 in a research report on Wednesday, July 10th. Citigroup lowered Citizens Financial Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $40.00 to $35.00 in a research note on Friday, July 12th. Wedbush set a $39.00 price objective on Citizens Financial Group and gave the stock a “buy” rating in a research note on Monday, April 22nd. Zacks Investment Research lowered Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 price objective on the stock. in a research note on Friday, July 12th. Finally, ValuEngine raised Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, April 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of “Hold” and a consensus price target of $40.42.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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