Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,000 shares of the bank’s stock after selling 19,000 shares during the quarter. Citizens Financial Group accounts for about 1.9% of Olstein Capital Management L.P.’s portfolio, making the stock its 4th largest position. Olstein Capital Management L.P. owned 0.07% of Citizens Financial Group worth $11,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFG. LPL Financial LLC increased its holdings in Citizens Financial Group by 14.2% in the third quarter. LPL Financial LLC now owns 317,200 shares of the bank’s stock valued at $8,501,000 after purchasing an additional 39,335 shares during the period. Federated Hermes Inc. raised its position in shares of Citizens Financial Group by 36.7% during the third quarter. Federated Hermes Inc. now owns 5,782 shares of the bank’s stock worth $155,000 after acquiring an additional 1,551 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Citizens Financial Group by 139.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 42,088 shares of the bank’s stock valued at $1,128,000 after acquiring an additional 24,498 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Citizens Financial Group by 219.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 25,680 shares of the bank’s stock valued at $688,000 after purchasing an additional 17,640 shares during the period. Finally, Bank of Nova Scotia raised its holdings in Citizens Financial Group by 10.4% during the 3rd quarter. Bank of Nova Scotia now owns 46,767 shares of the bank’s stock worth $1,253,000 after purchasing an additional 4,413 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CFG shares. Morgan Stanley reiterated an “equal weight” rating and set a $38.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their price objective on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group upped their target price on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday. Citigroup raised their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $41.00 in a research note on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $37.73.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the sale, the insider now owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Stock Down 0.9 %

NYSE CFG traded down $0.33 during trading hours on Wednesday, hitting $36.05. The company’s stock had a trading volume of 2,517,215 shares, compared to its average volume of 5,320,329. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The company’s 50-day simple moving average is $35.20 and its two-hundred day simple moving average is $33.84. The company has a market capitalization of $16.40 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $37.30.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $1.00 EPS. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.16 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Tuesday, April 30th. Citizens Financial Group’s payout ratio is currently 60.87%.

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.