Mutual of America Capital Management LLC Sells 3,744 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Mutual of America Capital Management LLC lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 57,383 shares of the bank’s stock after selling 3,744 shares during the period. Mutual of America Capital Management LLC’s holdings in Citizens Financial Group were worth $2,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFG. Corient Private Wealth LLC increased its position in Citizens Financial Group by 12.5% in the 4th quarter. Corient Private Wealth LLC now owns 70,115 shares of the bank’s stock valued at $2,324,000 after acquiring an additional 7,800 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Citizens Financial Group by 0.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 130,675 shares of the bank’s stock worth $4,331,000 after purchasing an additional 745 shares during the last quarter. US Bancorp DE lifted its holdings in Citizens Financial Group by 5.9% during the 4th quarter. US Bancorp DE now owns 32,329 shares of the bank’s stock worth $1,071,000 after buying an additional 1,815 shares in the last quarter. Commerce Bank boosted its position in Citizens Financial Group by 6.6% in the 4th quarter. Commerce Bank now owns 14,751 shares of the bank’s stock valued at $489,000 after buying an additional 913 shares during the last quarter. Finally, United Services Automobile Association increased its stake in shares of Citizens Financial Group by 37.1% in the 4th quarter. United Services Automobile Association now owns 19,511 shares of the bank’s stock valued at $647,000 after buying an additional 5,284 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CFG. DA Davidson upped their price target on Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. UBS Group raised their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Piper Sandler boosted their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley raised their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Evercore ISI upped their target price on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Hold” and a consensus target price of $42.20.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the transaction, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Trading Down 1.3 %

NYSE:CFG opened at $40.24 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50-day simple moving average is $41.20 and its 200-day simple moving average is $37.26. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The stock has a market capitalization of $18.04 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the company earned $0.92 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is 60.87%.

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.