Connable Office Inc. Has $448,000 Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Connable Office Inc. lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 32.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,912 shares of the bank’s stock after selling 5,339 shares during the quarter. Connable Office Inc.’s holdings in Citizens Financial Group were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CFG. Innealta Capital LLC acquired a new stake in shares of Citizens Financial Group in the second quarter valued at approximately $25,000. Costello Asset Management INC bought a new position in Citizens Financial Group in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at $27,000. Catalyst Capital Advisors LLC bought a new stake in shares of Citizens Financial Group during the third quarter worth $28,000. Finally, Versant Capital Management Inc lifted its stake 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 period. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Price Performance

Shares of CFG opened at $46.58 on Friday. The stock has a 50 day simple moving average of $41.97 and a 200 day simple moving average of $39.25. Citizens Financial Group, Inc. has a 52-week low of $26.13 and a 52-week high of $48.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $20.53 billion, a PE ratio of 18.34, a P/E/G ratio of 1.77 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is 66.14%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. DA Davidson increased their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Stephens upped their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Barclays raised their price target on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.80.

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.