Olstein Capital Management L.P. Sells 17,500 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Olstein Capital Management L.P. decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 194,000 shares of the bank's stock after selling 17,500 shares during the quarter. Citizens Financial Group comprises approximately 1.5% of Olstein Capital Management L.P.'s portfolio, making the stock its 17th biggest holding. Olstein Capital Management L.P.'s holdings in Citizens Financial Group were worth $8,489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC grew its position in shares of Citizens Financial Group by 104.9% in the second quarter. Intech Investment Management LLC now owns 11,359 shares of the bank's stock valued at $409,000 after purchasing an additional 5,815 shares during the last quarter. Pacer Advisors Inc. lifted its position in Citizens Financial Group by 4.3% during the second quarter. Pacer Advisors Inc. now owns 33,751 shares of the bank's stock worth $1,216,000 after buying an additional 1,379 shares during the period. Sei Investments Co. boosted its position in shares of Citizens Financial Group by 2.6% in the second quarter. Sei Investments Co. now owns 219,866 shares of the bank's stock worth $7,922,000 after acquiring an additional 5,627 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Citizens Financial Group by 4.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,114 shares of the bank's stock valued at $2,778,000 after buying an additional 3,335 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in Citizens Financial Group during the second quarter worth about $205,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CFG shares. Citigroup boosted their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Raymond James reissued a "strong-buy" rating and set a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Piper Sandler lifted their price target on Citizens Financial Group from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. DA Davidson upped their price target on Citizens Financial Group from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their target price on Citizens Financial Group from $48.00 to $59.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Citizens Financial Group Price Performance

Shares of CFG traded up $0.10 during mid-day trading on Friday, reaching $47.44. The company had a trading volume of 2,317,641 shares, compared to its average volume of 3,141,728. The company's 50-day moving average is $45.74 and its 200-day moving average is $43.07. Citizens Financial Group, Inc. has a twelve month low of $30.24 and a twelve month high of $49.25. The company has a market capitalization of $20.91 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.82 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1,962,330 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. Citizens Financial Group's quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.94 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.42 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 3.54%. Citizens Financial Group's payout ratio is 55.45%.

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.