Citizens Financial Group, Inc. $CFG Shares Sold by Twin Tree Management LP

Key Points

• Twin Tree Management LP reduced its holdings in Citizens Financial Group by 28.0% in the second quarter, selling over 8,400 shares and now owning approximately $971,000 worth of the stock.
• Citizens Financial Group reported strong quarterly earnings, with $1.05 earnings per share, exceeding analysts' expectations of $1.03, alongside a revenue increase of 11.4% year-over-year.
• The bank announced a quarterly dividend of $0.46 per share, reflecting a positive change from its previous dividend, and indicating a dividend yield of 3.8%.

Twin Tree Management LP cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 28.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,702 shares of the bank's stock after selling 8,451 shares during the period. Twin Tree Management LP's holdings in Citizens Financial Group were worth $971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CFG. AustralianSuper Pty Ltd acquired a new stake in Citizens Financial Group in the first quarter valued at $108,864,000. Assetmark Inc. raised its stake in Citizens Financial Group by 11,167.0% in the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank's stock valued at $55,209,000 after buying an additional 1,335,577 shares in the last quarter. AQR Capital Management LLC raised its stake in Citizens Financial Group by 19.1% in the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank's stock valued at $294,007,000 after buying an additional 1,180,390 shares in the last quarter. Swedbank AB raised its stake in Citizens Financial Group by 291.5% in the second quarter. Swedbank AB now owns 1,352,458 shares of the bank's stock valued at $60,522,000 after buying an additional 1,006,999 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Citizens Financial Group during the first quarter worth about $38,915,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

NYSE CFG opened at $48.34 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $55.24. The business's 50-day moving average price is $51.33 and its 200 day moving average price is $45.08. The firm has a market cap of $20.85 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.57 and a beta of 0.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, October 29th. This is a positive change from Citizens Financial Group's previous quarterly dividend of $0.42. Citizens Financial Group's payout ratio is presently 51.06%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CFG shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Citizens Financial Group in a report on Wednesday, October 8th. DA Davidson reaffirmed a "buy" rating and set a $59.00 price objective on shares of Citizens Financial Group in a report on Thursday. JPMorgan Chase & Co. raised Citizens Financial Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $48.50 to $52.00 in a report on Friday, August 1st. Bank of America raised Citizens Financial Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $52.00 to $65.00 in a report on Thursday, October 9th. Finally, Evercore ISI raised their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and an average target price of $56.67.

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.

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