Pointe Capital Management LLC Sells 9,269 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Pointe Capital Management LLC reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 59.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,288 shares of the bank’s stock after selling 9,269 shares during the quarter. Pointe Capital Management LLC’s holdings in Citizens Financial Group were worth $258,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CFG. Hennion & Walsh Asset Management Inc. boosted its position in shares of Citizens Financial Group by 21.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,460 shares of the bank’s stock valued at $416,000 after buying an additional 1,991 shares during the period. Diversified Trust Co boosted its position in shares of Citizens Financial Group by 5.7% during the first quarter. Diversified Trust Co now owns 10,532 shares of the bank’s stock valued at $382,000 after buying an additional 570 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Citizens Financial Group during the first quarter valued at approximately $1,037,000. MV Capital Management Inc. boosted its position in shares of Citizens Financial Group by 141.1% during the first quarter. MV Capital Management Inc. now owns 65,773 shares of the bank’s stock valued at $2,387,000 after buying an additional 38,491 shares during the period. Finally, Norden Group LLC purchased a new position in shares of Citizens Financial Group during the first quarter valued at approximately $786,000. 94.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CFG. Piper Sandler boosted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Raymond James assumed coverage on Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Finally, Stephens boosted their price target on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and a consensus price target of $43.80.

Citizens Financial Group Stock Down 0.6 %

Shares of CFG stock traded down $0.23 during trading hours on Friday, reaching $41.51. 4,645,467 shares of the company’s stock were exchanged, compared to its average volume of 5,366,083. The stock’s 50 day moving average is $41.45 and its 200-day moving average is $38.31. The company has a market cap of $18.89 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.42 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $44.39.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. Analysts predict that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. Citizens Financial Group’s dividend payout ratio (DPR) is 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.