Olstein Capital Management L.P. Sells 17,500 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Olstein Capital Management L.P. lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 194,000 shares of the bank’s stock after selling 17,500 shares during the quarter. Citizens Financial Group comprises about 1.5% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 17th largest holding. Olstein Capital Management L.P.’s holdings in Citizens Financial Group were worth $8,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of Citizens Financial Group by 104.9% in the 2nd quarter. Intech Investment Management LLC now owns 11,359 shares of the bank’s stock valued at $409,000 after acquiring an additional 5,815 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Citizens Financial Group by 4.3% in the second quarter. Pacer Advisors Inc. now owns 33,751 shares of the bank’s stock valued at $1,216,000 after buying an additional 1,379 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Citizens Financial Group by 2.6% in the second quarter. Sei Investments Co. now owns 219,866 shares of the bank’s stock valued at $7,922,000 after buying an additional 5,627 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Citizens Financial Group by 4.5% during the second quarter. Public Sector Pension Investment Board now owns 77,114 shares of the bank’s stock worth $2,778,000 after acquiring an additional 3,335 shares during the period. Finally, Evergreen Capital Management LLC bought a new stake in Citizens Financial Group in the 2nd quarter valued at $205,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays increased their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial raised their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Raymond James restated a “strong-buy” rating and issued a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Citizens Financial Group Price Performance

CFG stock opened at $47.44 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 0.82 and a beta of 1.10. The company’s fifty day simple moving average is $45.74 and its 200 day simple moving average is $43.02. Citizens Financial Group, Inc. has a 12-month low of $30.24 and a 12-month high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1,962,330 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, analysts expect that Citizens Financial Group, Inc. will post 3.94 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s payout ratio is 55.45%.

Citizens Financial Group Company 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.