Zions Bancorporation N.A. Cuts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Zions Bancorporation N.A. cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 20.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,024 shares of the bank’s stock after selling 271 shares during the quarter. Zions Bancorporation N.A.’s holdings in Citizens Financial Group were worth $37,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Innealta Capital LLC bought a new stake in Citizens Financial Group during the 2nd quarter valued at approximately $25,000. Versant Capital Management Inc grew its holdings in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares in the last quarter. Private Ocean LLC grew its holdings in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after buying an additional 838 shares in the last quarter. Quarry LP raised its position in shares of Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after buying an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Citizens Financial Group in the second quarter worth $48,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by insiders.

Citizens Financial Group Stock Up 1.0 %

Shares of NYSE:CFG opened at $40.09 on Monday. The firm has a market capitalization of $17.97 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.08. The business has a 50 day simple moving average of $40.71 and a two-hundred day simple moving average of $36.85. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $43.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. Citizens Financial Group’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is presently 60.87%.

Analysts Set New Price Targets

Several research firms recently weighed in on CFG. The Goldman Sachs Group raised their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. UBS Group lifted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stephens increased their price target on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Jefferies Financial Group increased their price objective on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.20.

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.