abrdn plc Trims Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

abrdn plc lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 174,502 shares of the bank’s stock after selling 2,424 shares during the period. abrdn plc’s holdings in Citizens Financial Group were worth $7,169,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $25,000. Versant Capital Management Inc increased its stake in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares in the last quarter. Private Ocean LLC increased its stake in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after buying an additional 838 shares in the last quarter. Friedenthal Financial purchased a new stake in Citizens Financial Group during the 3rd quarter worth approximately $50,000. Finally, Claro Advisors LLC purchased a new stake in Citizens Financial Group during the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.7 %

Citizens Financial Group stock opened at $41.82 on Friday. Citizens Financial Group, Inc. has a twelve month low of $23.50 and a twelve month high of $44.39. The stock’s fifty day simple moving average is $41.52 and its 200-day simple moving average is $38.63. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $18.61 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.63 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. Citizens Financial Group’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 3.19 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Analysts Set New Price Targets

Several research firms have commented on CFG. Evercore ISI cut their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. DA Davidson upped their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Stephens upped their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Piper Sandler upped their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.80.

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.