EverSource Wealth Advisors LLC Cuts Position in Citizens Financial Group, Inc. (NYSE:CFG)

EverSource Wealth Advisors LLC reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 15.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,773 shares of the bank’s stock after selling 667 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Citizens Financial Group were worth $136,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Citizens Financial Group in the second quarter worth $25,000. Versant Capital Management Inc increased its position 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 raised its stake in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after buying an additional 838 shares during the last quarter. Quarry LP boosted its holdings in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Citizens Financial Group during the second quarter valued at about $48,000. Institutional investors own 94.90% of the company’s stock.

Insider Activity

In related 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 transaction of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares in the company, valued at approximately $1,454,401.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CFG shares. UBS Group upped their price target 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. Morgan Stanley raised their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Evercore ISI increased their price objective on Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Raymond James assumed coverage on Citizens Financial Group in a report on Thursday, July 11th. They set a “market perform” rating for the company. Finally, Stephens increased their price target on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.20.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $40.51 on Friday. The firm has a market cap of $18.43 billion, a PE ratio of 14.68, a P/E/G ratio of 1.43 and a beta of 1.08. The business has a 50-day moving average price of $41.18 and a 200 day moving average price of $37.28. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96.

Citizens Financial Group (NYSE:CFG) last announced its 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 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 analyst estimates of $1.95 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.15%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

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.