Point72 Hong Kong Ltd Cuts Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Point72 Hong Kong Ltd cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 35.0% during the third quarter, Holdings Channel reports. The firm owned 66,851 shares of the bank’s stock after selling 35,995 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Citizens Financial Group were worth $2,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commerce Bank raised its position in shares of Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock valued at $541,000 after buying an additional 250 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Citizens Financial Group by 12.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock valued at $84,000 after acquiring an additional 264 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in Citizens Financial Group by 2.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 11,395 shares of the bank’s stock valued at $468,000 after acquiring an additional 280 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its stake in Citizens Financial Group by 0.3% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock worth $3,648,000 after purchasing an additional 308 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Citizens Financial Group by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 16,076 shares of the bank’s stock valued at $660,000 after purchasing an additional 330 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CFG has been the topic of several research reports. DA Davidson lifted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI decreased their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Barclays raised their target price on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.47.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $48.14 on Monday. The stock has a 50 day moving average price of $43.54 and a 200 day moving average price of $40.26. Citizens Financial Group, Inc. has a 52-week low of $26.99 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $21.22 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.83 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group’s dividend payout ratio is currently 66.14%.

Citizens Financial Group Company Profile

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.