Sumitomo Mitsui Trust Group Inc. Sells 6,614 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,011,791 shares of the bank’s stock after selling 6,614 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Citizens Financial Group were worth $41,554,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Citizens Financial Group in the second quarter valued at about $25,000. Costello Asset Management INC bought a new stake in shares of Citizens Financial Group in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Citizens Financial Group in the third quarter valued at approximately $27,000. Catalyst Capital Advisors LLC bought a new position in Citizens Financial Group during the third quarter valued at $28,000. Finally, Versant Capital Management Inc increased its position in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.4 %

Shares of NYSE CFG opened at $46.77 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $42.07 and a 200-day moving average of $39.30. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.77 and a beta of 1.07. Citizens Financial Group, Inc. has a 12 month low of $26.13 and a 12 month high of $48.35.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.59%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 66.14%.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays increased their target price on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson boosted their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Evercore ISI lowered their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Nine 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, Citizens Financial Group currently has an average rating of “Hold” and a consensus target price of $43.80.

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.