Olstein Capital Management L.P. Sells 88,500 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Olstein Capital Management L.P. reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 29.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,500 shares of the bank's stock after selling 88,500 shares during the quarter. Citizens Financial Group accounts for 1.5% of Olstein Capital Management L.P.'s portfolio, making the stock its 20th largest position. Olstein Capital Management L.P.'s holdings in Citizens Financial Group were worth $8,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC bought a new position in Citizens Financial Group during the 3rd quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in Citizens Financial Group during the 2nd quarter valued at $25,000. Versant Capital Management Inc raised its position in Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. Private Ocean LLC grew its holdings 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 worth $36,000 after purchasing an additional 838 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Citizens Financial Group in the third quarter valued at $50,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Down 4.7 %

Citizens Financial Group stock traded down $2.28 during mid-day trading on Thursday, hitting $46.03. 5,226,480 shares of the company's stock were exchanged, compared to its average volume of 5,344,135. The company's 50 day simple moving average is $41.61 and its 200-day simple moving average is $38.86. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $20.49 billion, a P/E ratio of 18.14, a PEG ratio of 1.59 and a beta of 1.07. Citizens Financial Group, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $48.35.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Citizens Financial Group's revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.19 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.65%. Citizens Financial Group's payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI decreased their price objective on shares of 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. Royal Bank of Canada raised their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. DA Davidson boosted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, UBS Group raised their price target on Citizens Financial Group from $42.00 to $46.00 and gave the company a "buy" rating in a report on Thursday, July 18th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Citizens Financial Group has an average rating of "Hold" and a consensus price target of $43.80.

Citizens Financial Group 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.