Citizens Financial Group (NYSE:CFG) Shares Gap Down - Time to Sell?

Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $43.48, but opened at $42.33. Citizens Financial Group shares last traded at $44.04, with a volume of 2,302,800 shares.

Analyst Ratings Changes

Several brokerages have weighed in on CFG. Raymond James began coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They set a "market perform" rating on the stock. Piper Sandler upped their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on Citizens Financial Group from $35.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, July 18th. DA Davidson upped their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group lifted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $43.07.

Citizens Financial Group Trading Down 2.4 %

The company has a 50-day moving average of $41.14 and a 200 day moving average of $37.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $19.30 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07.

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

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group's dividend payout ratio (DPR) is 60.87%.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the company's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Citizens Financial Group

A number of large investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Citizens Financial Group in the second quarter worth about $25,000. Versant Capital Management Inc increased its position in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock worth $34,000 after acquiring an additional 678 shares during the period. Private Ocean LLC raised its stake in shares of Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank's stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP boosted its holdings in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank's stock valued at $37,000 after purchasing an additional 714 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Citizens Financial Group in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

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.