Citizens Financial Group (NYSE:CFG) Sets New 12-Month High - Here's What Happened

Shares of Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $43.98 and last traded at $43.72, with a volume of 806785 shares changing hands. The stock had previously closed at $43.27.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of recent research reports. StockNews.com cut shares of Citizens Financial Group from a "hold" rating to a "sell" rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price target on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, July 18th. Piper Sandler lifted their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. DA Davidson lifted their price target on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Finally, Evercore ISI reduced their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of "Hold" and an average price target of $43.07.

Citizens Financial Group Stock Up 0.5 %

The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $19.79 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.42 and a beta of 1.07. The stock's 50 day simple moving average is $41.14 and its 200 day simple moving average is $37.94.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company earned $0.92 earnings per share. The company's revenue was down 6.3% compared to the same quarter last year. As a group, research analysts predict that Citizens Financial Group, Inc. will post 3.22 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.86%. Citizens Financial Group's dividend payout ratio (DPR) is 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now directly owns 33,620 shares of the company's stock, valued at approximately $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Citizens Financial Group

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP increased its holdings in shares of Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank's stock worth $37,000 after acquiring an additional 714 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Citizens Financial Group by 20.4% in the 4th quarter. V Square Quantitative Management LLC now owns 12,994 shares of the bank's stock worth $431,000 after acquiring an additional 2,198 shares during the period. SageView Advisory Group LLC increased its holdings in shares of Citizens Financial Group by 25.8% in the 4th quarter. SageView Advisory Group LLC now owns 22,286 shares of the bank's stock worth $765,000 after acquiring an additional 4,566 shares during the period. HighPoint Advisor Group LLC acquired a new stake in shares of Citizens Financial Group in the 4th quarter worth about $208,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Citizens Financial Group by 24.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 62,665 shares of the bank's stock worth $2,274,000 after acquiring an additional 12,140 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

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.