Craig Jack Read Sells 6,327 Shares of Citizens Financial Group, Inc. (NYSE:CFG) Stock

Citizens Financial Group, Inc. (NYSE:CFG) insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Craig Jack Read also recently made the following trade(s):

• On Tuesday, March 5th, Craig Jack Read sold 4,508 shares of Citizens Financial Group stock. The stock was sold at an average price of $33.54, for a total value of $151,198.32.

Citizens Financial Group Stock Up 1.6 %

NYSE:CFG traded up $0.56 during trading hours on Monday, reaching $34.55. 4,821,707 shares of the stock were exchanged, compared to its average volume of 5,909,812. The stock has a market cap of $15.84 billion, a PE ratio of 12.32 and a beta of 1.38. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $36.38. The firm has a 50 day moving average of $33.33 and a 200 day moving average of $30.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.86%. Citizens Financial Group’s payout ratio is 60.87%.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates boosted its holdings in shares of Citizens Financial Group by 8.3% during the first quarter. Raymond James & Associates now owns 409,217 shares of the bank’s stock worth $14,850,000 after acquiring an additional 31,506 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Citizens Financial Group by 14.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,015 shares of the bank’s stock worth $363,000 after buying an additional 1,230 shares in the last quarter. Norden Group LLC bought a new position in shares of Citizens Financial Group in the first quarter worth about $786,000. MV Capital Management Inc. boosted its position in Citizens Financial Group by 141.1% in 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 in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Citizens Financial Group during the 1st quarter worth $1,037,000. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CFG shares. Evercore ISI raised their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Wedbush cut their price objective on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday. Barclays downgraded Citizens Financial Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Finally, UBS Group lifted their target price on shares of Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.93.

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.