Ferguson Wellman Capital Management Inc. Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,990 shares of the bank’s stock after selling 1,114 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Citizens Financial Group were worth $287,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Citizens Financial Group in the second quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares during the last quarter. Private Ocean LLC raised its position in shares of Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after buying an additional 838 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $48,000. Finally, Atlas Capital Advisors LLC purchased a new position in Citizens Financial Group in the second quarter worth about $48,000. Institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was 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 of the company’s stock, valued at approximately $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CFG. Morgan Stanley upped their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Piper Sandler increased their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. DA Davidson raised their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada upped 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. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.80.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $42.47 on Friday. The firm has a 50 day moving average of $41.33 and a 200 day moving average of $38.07. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $44.39.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be given 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 yield of 3.96%. Citizens Financial Group’s payout ratio is 60.87%.

Citizens Financial Group Company 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.