Groesbeck Investment Management Corp NJ Lowers Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Groesbeck Investment Management Corp NJ decreased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,775 shares of the bank’s stock after selling 8,100 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Citizens Financial Group were worth $390,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $28,000. Clear Street Markets LLC boosted its position in Citizens Financial Group by 93.6% during the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock worth $29,000 after purchasing an additional 466 shares in the last quarter. Lindbrook Capital LLC boosted its position in Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Citizens Financial Group during the fourth quarter worth approximately $42,000. Finally, CVA Family Office LLC purchased a new position in Citizens Financial Group during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Morgan Stanley increased their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. UBS Group increased their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Royal Bank of Canada increased their price target on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Finally, StockNews.com downgraded Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.88.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now directly owns 43,885 shares in the company, valued at $1,471,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is currently owned by company insiders.

Citizens Financial Group Price Performance

Shares of NYSE:CFG traded up $0.06 during midday trading on Thursday, hitting $33.08. The company had a trading volume of 1,467,932 shares, compared to its average volume of 5,844,073. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $36.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 10.69 and a beta of 1.38. The business’s 50-day simple moving average is $33.25 and its 200-day simple moving average is $30.56.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $1.00 EPS. Citizens Financial Group’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, research analysts predict that Citizens Financial Group, Inc. will post 3.23 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.08%. Citizens Financial Group’s dividend payout ratio is presently 54.02%.

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.