Trust Investment Advisors Lowers Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Trust Investment Advisors trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,140 shares of the bank’s stock after selling 276 shares during the quarter. Trust Investment Advisors’ holdings in Citizens Financial Group were worth $1,482,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CFG. Intech Investment Management LLC increased its holdings in shares of Citizens Financial Group by 104.9% in the 2nd quarter. Intech Investment Management LLC now owns 11,359 shares of the bank’s stock valued at $409,000 after acquiring an additional 5,815 shares during the period. Cowa LLC purchased a new position in Citizens Financial Group in the second quarter valued at about $276,000. XTX Topco Ltd grew its stake in Citizens Financial Group by 146.2% in the second quarter. XTX Topco Ltd now owns 52,917 shares of the bank’s stock valued at $1,907,000 after purchasing an additional 31,423 shares during the last quarter. Seven Eight Capital LP bought a new position in Citizens Financial Group in the second quarter worth about $1,685,000. Finally, Hsbc Holdings PLC lifted its position in shares of Citizens Financial Group by 1.7% during the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock valued at $99,448,000 after buying an additional 45,038 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

CFG opened at $42.21 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $43.96. The firm has a 50 day moving average of $41.06 and a two-hundred day moving average of $37.04. The firm has a market capitalization of $19.21 billion, a PE ratio of 15.29, a P/E/G ratio of 1.42 and a beta of 1.08.

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

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.98%. Citizens Financial Group’s payout ratio is 60.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CFG. UBS Group lifted their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Piper Sandler upped their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Royal Bank of Canada boosted their target price on Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group increased their price target on Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.20.

Insider Buying and Selling

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

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.