Citizens Financial Group, Inc. $CFG Shares Sold by Bokf Na

Key Points

• Bokf Na reduced its Citizens Financial Group stake by 7.6% in the third quarter, selling 16,141 shares and retaining 196,549 shares valued at approximately $12.5 million. Institutional investors collectively own 94.9% of CFG’s outstanding stock.
• Citizens Financial Group reported quarterly EPS of $1.41, narrowly beating estimates of $1.39, while revenue of $2.32 billion fell short of the $2.34 billion consensus.
• The bank increased its quarterly dividend from $0.46 to $0.52 per share, equivalent to a $2.08 annualized payout and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $77.28.

Bokf Na cut its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,549 shares of the bank's stock after selling 16,141 shares during the quarter. Bokf Na's holdings in Citizens Financial Group were worth $12,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $223,386,000. Freestone Grove Partners LP bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth $95,642,000. Tidal Investments LLC grew its position in Citizens Financial Group by 12.4% during the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank's stock valued at $10,187,000 after buying an additional 16,000 shares during the period. Sterling Investment Management LLC purchased a new stake in Citizens Financial Group during the third quarter worth about $2,164,000. Finally, Citizens Financial Group Inc. RI increased its holdings in Citizens Financial Group by 145.6% during the third quarter. Citizens Financial Group Inc. RI now owns 773,677 shares of the bank's stock worth $49,330,000 after buying an additional 458,698 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Down 0.1%

CFG opened at $65.25 on Thursday. The company has a 50 day moving average of $66.66 and a 200 day moving average of $65.49. The company has a market cap of $27.48 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period in the previous year, the business earned $1.05 EPS. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, October 30th. This is a positive change from Citizens Financial Group's previous quarterly dividend of $0.46. Citizens Financial Group's dividend payout ratio is presently 37.02%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Citizens Financial Group in a research note on Friday, October 16th. Jefferies Financial Group upped their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Stephens dropped their price objective on Citizens Financial Group from $70.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 20th. Barclays increased their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and an average price target of $77.28.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.

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