Citizens Financial Group, Inc. $CFG Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,174 shares of the bank’s stock after selling 8,103 shares during the period. ProShare Advisors LLC’s holdings in Citizens Financial Group were worth $4,975,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Citizens Financial Group in the 1st quarter valued at approximately $3,177,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Citizens Financial Group by 5.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after purchasing an additional 42,971 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Citizens Financial Group by 20.7% during the second quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock worth $287,932,000 after purchasing an additional 1,098,684 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Citizens Financial Group by 78.7% in the second quarter. Pinnacle Associates Ltd. now owns 19,735 shares of the bank’s stock valued at $883,000 after buying an additional 8,693 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC raised its stake in Citizens Financial Group by 1,309.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 24,649 shares of the bank’s stock valued at $1,103,000 after buying an additional 22,900 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CFG shares. Evercore ISI upped their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Citigroup boosted their target price on Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Stephens reiterated an “overweight” rating and issued a $60.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 16th. Truist Financial reduced their price objective on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Finally, UBS Group increased their target price on shares of Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Buy” and a consensus target price of $56.57.

Citizens Financial Group Price Performance

CFG stock opened at $51.74 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $22.22 billion, a P/E ratio of 14.49, a PEG ratio of 0.55 and a beta of 0.82. The business has a 50 day simple moving average of $51.81 and a 200-day simple moving average of $47.33. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $55.24.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. Citizens Financial Group’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.6%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, October 29th. Citizens Financial Group’s payout ratio is currently 51.54%.

Citizens Financial Group Company 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.