Short Interest in Citizens Financial Group Inc (NYSE:CFG) Declines By 18.1%

Citizens Financial Group Inc (NYSE:CFG) was the target of a large drop in short interest in November. As of November 29th, there was short interest totalling 7,850,000 shares, a drop of 18.1% from the November 14th total of 9,590,000 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 3,940,000 shares, the short-interest ratio is presently 2.0 days.

Shares of CFG stock traded down $0.44 on Friday, reaching $40.12. The stock had a trading volume of 3,424,695 shares, compared to its average volume of 2,809,633. The stock has a market cap of $17.01 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. Citizens Financial Group has a 1 year low of $27.62 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.96 and a current ratio of 0.97. The company has a 50 day simple moving average of $37.88 and a 200 day simple moving average of $35.51.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Citizens Financial Group had a return on equity of 8.85% and a net margin of 22.29%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. Citizens Financial Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Citizens Financial Group will post 3.81 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 price target for the company in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price objective on Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. ValuEngine downgraded Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Citigroup cut shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $39.00 to $32.00 in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $38.28.

Several large investors have recently modified their holdings of CFG. Princeton Global Asset Management LLC increased its stake in shares of Citizens Financial Group by 8.2% in the 3rd quarter. Princeton Global Asset Management LLC now owns 48,331 shares of the bank’s stock worth $1,653,000 after purchasing an additional 3,648 shares in the last quarter. Millennium Management LLC lifted its position in shares of Citizens Financial Group by 893.1% during the 3rd quarter. Millennium Management LLC now owns 4,802,971 shares of the bank’s stock valued at $169,881,000 after buying an additional 4,319,352 shares in the last quarter. Squarepoint Ops LLC raised its stake in Citizens Financial Group by 163.0% during the 3rd quarter. Squarepoint Ops LLC now owns 1,052,886 shares of the bank’s stock worth $37,241,000 after acquiring an additional 652,584 shares during the period. Voloridge Investment Management LLC bought a new stake in Citizens Financial Group during the 3rd quarter worth approximately $8,452,000. Finally, National Pension Service lifted its holdings in Citizens Financial Group by 5.4% during the third quarter. National Pension Service now owns 642,847 shares of the bank’s stock valued at $22,737,000 after purchasing an additional 32,782 shares in the last quarter. Hedge funds and other institutional investors own 95.73% of the company’s stock.

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.

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