Everence Capital Management Inc. Lowers Position in Citizens Financial Group, Inc. (NYSE:CFG)

Everence Capital Management Inc. cut its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 14.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,550 shares of the bank’s stock after selling 3,170 shares during the quarter. Everence Capital Management Inc.’s holdings in Citizens Financial Group were worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the last quarter. Private Ocean LLC increased its position 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 valued at $36,000 after acquiring an additional 838 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $48,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $48,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Price Performance

NYSE:CFG traded down $1.18 during trading hours on Monday, hitting $41.29. 2,338,091 shares of the company’s stock traded hands, compared to its average volume of 5,373,314. The firm has a market cap of $18.79 billion, a P/E ratio of 15.39, a P/E/G 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. The business’s fifty day simple moving average is $41.33 and its two-hundred day simple moving average is $38.09. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, research analysts anticipate that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.07%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is 60.87%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CFG. Raymond James began coverage on Citizens Financial Group in a research report on Thursday, July 11th. They set a “market perform” rating for the company. Jefferies Financial Group raised their target price on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. DA Davidson raised 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. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group raised their target price 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. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and a consensus 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.