Quest Partners LLC Decreases Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Quest Partners LLC reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 27.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,310 shares of the bank's stock after selling 29,728 shares during the quarter. Quest Partners LLC's holdings in Citizens Financial Group were worth $3,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its stake in shares of Citizens Financial Group by 101.6% in the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank's stock worth $27,641,000 after purchasing an additional 383,947 shares during the last quarter. Versor Investments LP bought a new position in Citizens Financial Group during the 3rd quarter valued at $1,910,000. UniSuper Management Pty Ltd boosted its holdings in Citizens Financial Group by 1,045.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank's stock worth $932,000 after acquiring an additional 23,449 shares during the last quarter. CWM LLC increased its holdings in Citizens Financial Group by 77.1% during the second quarter. CWM LLC now owns 40,699 shares of the bank's stock worth $1,466,000 after buying an additional 17,718 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Citizens Financial Group in the second quarter worth about $5,009,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

CFG traded down $0.21 during trading on Monday, reaching $46.57. The stock had a trading volume of 4,162,589 shares, compared to its average volume of 5,302,717. The business has a 50-day moving average of $42.29 and a 200-day moving average of $39.53. Citizens Financial Group, Inc. has a one year low of $26.13 and a one year high of $48.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $20.52 billion, a PE ratio of 18.33, a PEG ratio of 1.78 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company's revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.61%. Citizens Financial Group's payout ratio is 66.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CFG shares. Piper Sandler lifted their price target 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. DA Davidson increased their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Barclays upped their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a "market perform" rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada raised their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $43.80.

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.