Craig Jack Read Sells 6,327 Shares of Citizens Financial Group, Inc. (NYSE:CFG) Stock

Citizens Financial Group, Inc. (NYSE:CFG) insider Craig Jack Read sold 6,327 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the sale, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Craig Jack Read also recently made the following trade(s):

• On Tuesday, March 5th, Craig Jack Read sold 4,508 shares of Citizens Financial Group stock. The shares were sold at an average price of $33.54, for a total value of $151,198.32.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $35.52 on Thursday. The firm has a market capitalization of $16.28 billion, a PE ratio of 12.87 and a beta of 1.38. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $36.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50-day moving average of $33.54 and a two-hundred day moving average of $30.86.

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 11.52% and a return on equity of 6.62%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, research analysts forecast that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.73%. Citizens Financial Group’s payout ratio is 60.87%.

Institutional Trading of Citizens Financial Group

Several large investors have recently added to or reduced their stakes in CFG. Czech National Bank boosted its position in shares of Citizens Financial Group by 0.5% in the first quarter. Czech National Bank now owns 82,032 shares of the bank’s stock worth $2,977,000 after buying an additional 375 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Citizens Financial Group by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after acquiring an additional 393 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Citizens Financial Group by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 26,737 shares of the bank’s stock worth $970,000 after acquiring an additional 418 shares during the period. Wealthspire Advisors LLC grew its position in Citizens Financial Group by 4.1% in the fourth quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock valued at $367,000 after acquiring an additional 439 shares in the last quarter. Finally, Connable Office Inc. raised its stake in shares of Citizens Financial Group by 2.6% during the fourth quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock valued at $574,000 after purchasing an additional 443 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CFG. Barclays cut Citizens Financial Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Royal Bank of Canada upped their target price on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Wedbush decreased their price target on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Citigroup raised their target price on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and an average target price of $36.13.

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.