Citizens Financial Group Inc (NYSE:CFG) Short Interest Down 41.3% in August

Citizens Financial Group Inc (NYSE:CFG) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 6,101,000 shares, a drop of 41.3% from the July 31st total of 10,396,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 4,320,000 shares, the short-interest ratio is presently 1.4 days.

Several research analysts recently issued reports on CFG shares. Argus raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Monday, July 29th. UBS Group cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $38.00 in a report on Wednesday, July 10th. Zacks Investment Research cut shares of Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 target price for the company. in a report on Friday, July 12th. Citigroup cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $35.00 in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $40.42.

In other Citizens Financial Group news, Director Charles John Koch bought 15,000 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of $32.45 per share, with a total value of $486,750.00. Following the completion of the acquisition, the director now directly owns 68,781 shares in the company, valued at approximately $2,231,943.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.



A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFG. Coastal Investment Advisors Inc. grew its position in shares of Citizens Financial Group by 19.3% in the second quarter. Coastal Investment Advisors Inc. now owns 2,055 shares of the bank’s stock valued at $73,000 after purchasing an additional 333 shares during the period. First Interstate Bank grew its position in shares of Citizens Financial Group by 13.8% in the second quarter. First Interstate Bank now owns 2,746 shares of the bank’s stock valued at $97,000 after purchasing an additional 334 shares during the period. RKL Wealth Management LLC grew its position in shares of Citizens Financial Group by 1.1% in the second quarter. RKL Wealth Management LLC now owns 33,681 shares of the bank’s stock valued at $1,189,000 after purchasing an additional 365 shares during the period. Huntington National Bank grew its position in shares of Citizens Financial Group by 18.1% in the second quarter. Huntington National Bank now owns 2,538 shares of the bank’s stock valued at $90,000 after purchasing an additional 389 shares during the period. Finally, Greenleaf Trust grew its position in shares of Citizens Financial Group by 5.1% in the second quarter. Greenleaf Trust now owns 8,248 shares of the bank’s stock valued at $292,000 after purchasing an additional 397 shares during the period. 96.78% of the stock is owned by institutional investors.

CFG traded up $0.46 on Friday, reaching $36.83. The stock had a trading volume of 4,076,588 shares, compared to its average volume of 4,474,755. Citizens Financial Group has a 12-month low of $27.62 and a 12-month high of $41.17. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $34.15 and its two-hundred day moving average price is $34.80. The company has a market cap of $16.26 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Citizens Financial Group had a net margin of 22.61% and a return on equity of 8.94%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, analysts predict that Citizens Financial Group will post 3.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.36 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.44 dividend on an annualized basis and a yield of 3.91%. Citizens Financial Group’s payout ratio is presently 40.45%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading: Neutral Rating

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