Two Sigma Investments LP Trims Position in Citizens Financial Group, Inc. (NYSE:CFG)

Two Sigma Investments LP lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 88.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,020 shares of the bank's stock after selling 747,244 shares during the quarter. Two Sigma Investments LP's holdings in Citizens Financial Group were worth $4,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BTC Capital Management Inc. lifted its position in Citizens Financial Group by 19.8% during the 4th quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank's stock worth $1,882,000 after acquiring an additional 7,119 shares during the period. Patton Fund Management Inc. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $6,694,000. SVB Wealth LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $421,000. Arvest Bank Trust Division acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $2,196,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $237,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

Shares of CFG stock traded up $0.07 during mid-day trading on Friday, reaching $40.33. The stock had a trading volume of 7,319,253 shares, compared to its average volume of 4,829,262. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.25. The company has a market cap of $17.63 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74. The business has a 50-day simple moving average of $38.32 and a 200 day simple moving average of $42.81. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.17%. Citizens Financial Group's dividend payout ratio (DPR) is 53.33%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CFG. Stephens cut their price objective on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. TD Cowen began coverage on shares of Citizens Financial Group in a research note on Thursday, May 15th. They set a "buy" rating and a $57.00 price target on the stock. UBS Group raised their price objective on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Friday. Raymond James reaffirmed a "strong-buy" rating and issued a $48.00 price objective (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Finally, Barclays dropped their target price on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.89.

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.