Beacon Investment Advisory Services Inc. Cuts Position in Citizens Financial Group, Inc. (NYSE:CFG)

Beacon Investment Advisory Services Inc. lessened its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 55.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,778 shares of the bank’s stock after selling 25,047 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Citizens Financial Group were worth $812,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Basswood Capital Management L.L.C. grew its holdings in Citizens Financial Group by 0.4% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 820,700 shares of the bank’s stock valued at $33,706,000 after buying an additional 3,534 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $971,000. Erste Asset Management GmbH bought a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $2,107,000. True Wealth Design LLC bought a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $107,000. Finally, Cobblestone Capital Advisors LLC NY lifted its stake in shares of Citizens Financial Group by 2.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 11,395 shares of the bank’s stock valued at $468,000 after purchasing an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 2.2 %

Shares of NYSE:CFG opened at $47.09 on Tuesday. Citizens Financial Group, Inc. has a 12-month low of $27.97 and a 12-month high of $49.25. The business’s fifty day simple moving average is $43.66 and its 200-day simple moving average is $40.34. The company has a market capitalization of $20.75 billion, a PE ratio of 18.54, a P/E/G ratio of 1.83 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.85 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.57%. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Analyst Ratings Changes

Several research firms have recently issued reports on CFG. DA Davidson raised their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Barclays raised their price objective on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Evercore ISI decreased their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Hold” and an average price target of $45.47.

Citizens Financial Group 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.