Olstein Capital Management L.P. Sells 8,700 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Olstein Capital Management L.P. trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 185,300 shares of the bank's stock after selling 8,700 shares during the quarter. Citizens Financial Group accounts for 1.4% of Olstein Capital Management L.P.'s holdings, making the stock its 27th biggest position. Olstein Capital Management L.P.'s holdings in Citizens Financial Group were worth $7,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $26,000. Colonial Trust Co SC boosted its stake in shares of Citizens Financial Group by 673.0% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock worth $39,000 after acquiring an additional 774 shares during the period. Sierra Ocean LLC acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $47,000. Duncker Streett & Co. Inc. bought a new stake in Citizens Financial Group in the 4th quarter valued at $51,000. Finally, SBI Securities Co. Ltd. bought a new stake in Citizens Financial Group in the 4th quarter valued at $66,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Barclays decreased their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Citigroup cut their price objective on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Piper Sandler decreased their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Truist Financial dropped their price target on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.89.

Citizens Financial Group Price Performance

CFG stock traded down $0.25 during trading on Thursday, reaching $41.15. 5,923,687 shares of the company were exchanged, compared to its average volume of 4,826,835. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $49.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 0.81 and a beta of 0.75. The company has a 50-day moving average of $38.52 and a two-hundred day moving average of $42.54.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. Citizens Financial Group's payout ratio is 53.33%.

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.