Quest Partners LLC Decreases Position in Citizens Financial Group, Inc. (NYSE:CFG)

Quest Partners LLC lowered its position in Citizens Financial Group, Inc. (NYSE:CFG) by 27.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,310 shares of the bank’s stock after selling 29,728 shares during the quarter. Quest Partners LLC’s holdings in Citizens Financial Group were worth $3,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CFG. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the second quarter valued at about $25,000. Costello Asset Management INC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Citizens Financial Group in the 3rd quarter valued at approximately $27,000. Catalyst Capital Advisors LLC acquired a new stake in Citizens Financial Group during the 3rd quarter valued at $28,000. Finally, Versant Capital Management Inc grew its holdings in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.4 %

Shares of CFG opened at $46.78 on Monday. Citizens Financial Group, Inc. has a twelve month low of $26.13 and a twelve month high of $48.35. The firm has a market capitalization of $20.62 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.78 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. The stock’s fifty day simple moving average is $42.19 and its 200 day simple moving average is $39.45.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting 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 company 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 company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.59%. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Analyst Upgrades and Downgrades

CFG has been the subject of a number of analyst reports. Evercore ISI cut their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. DA Davidson raised their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Finally, Barclays upped their price objective on shares of 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. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.