BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 11,877 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 13.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,926 shares of the bank’s stock after selling 11,877 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Citizens Financial Group were worth $3,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $25,000. Costello Asset Management INC acquired a new position in Citizens Financial Group during the third quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in Citizens Financial Group in the third quarter valued at $27,000. Catalyst Capital Advisors LLC acquired a new stake in Citizens Financial Group in the 3rd quarter valued at $28,000. Finally, Private Ocean LLC lifted its position in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after buying an additional 838 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $46.78 on Wednesday. The stock has a 50 day simple moving average of $43.78 and a 200 day simple moving average of $40.41. The stock has a market cap of $20.62 billion, a P/E ratio of 18.42, a PEG ratio of 1.79 and a beta of 1.08. Citizens Financial Group, Inc. has a 1-year low of $27.97 and a 1-year high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler increased their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup raised their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods boosted 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. DA Davidson raised their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their price target on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.80.

Citizens Financial Group Profile

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.