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

Quest Partners LLC cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 27.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 78,310 shares of the bank’s stock after selling 29,728 shares during the period. Quest Partners LLC’s holdings in Citizens Financial Group were worth $3,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors raised its stake in shares of Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after purchasing an additional 1,552,333 shares during the period. LSV Asset Management increased its stake in Citizens Financial Group by 1.8% during the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock worth $237,106,000 after buying an additional 113,300 shares during the period. Dimensional Fund Advisors LP boosted its position in Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after buying an additional 587,115 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 61.4% during the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after acquiring an additional 1,682,886 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Citizens Financial Group by 1.7% during the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock worth $99,448,000 after acquiring an additional 45,038 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.4 %

NYSE:CFG opened at $46.78 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $42.19 and a 200-day moving average of $39.45. The firm has a market capitalization of $20.62 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. Citizens Financial Group, Inc. has a 52 week low of $26.13 and a 52 week high of $48.35.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. Analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.59%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Analyst Ratings Changes

A number of research analysts recently commented on CFG shares. Evercore ISI reduced their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Finally, Morgan Stanley raised their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Citizens Financial Group currently has an average rating of “Hold” and an average price target 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.