Citizens Financial Group (NYSE:CFG) Sees Large Volume Increase

Citizens Financial Group, Inc. (NYSE:CFG) saw unusually-high trading volume on Thursday . Approximately 206,346 shares traded hands during trading, a decline of 95% from the previous session’s volume of 3,858,336 shares.The stock last traded at $55.65 and had previously closed at $55.21.

CFG has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on Citizens Financial Group from $54.00 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 6th. UBS Group initiated coverage on Citizens Financial Group in a research report on Thursday. They set a “neutral” rating and a $58.00 target price for the company. Jefferies Financial Group raised their target price on Citizens Financial Group from $47.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 11th. Morgan Stanley began coverage on Citizens Financial Group in a research report on Tuesday. They set an “overweight” rating and a $69.00 target price for the company. Finally, Barclays increased their price target on Citizens Financial Group from $55.00 to $62.00 in a research note on Monday, January 3rd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $53.90.

The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $48.90 and a two-hundred day moving average of $46.49. The company has a market capitalization of $24.02 billion, a PE ratio of 11.32, a PEG ratio of 0.57 and a beta of 1.61.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Tuesday, October 19th. The bank reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.02. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Citizens Financial Group had a return on equity of 10.99% and a net margin of 31.99%. During the same period in the previous year, the firm earned $0.73 EPS. Equities analysts forecast that Citizens Financial Group, Inc. will post 5.23 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Friday, October 29th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $1.56 dividend on an annualized basis and a yield of 2.77%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 31.33%.

A number of institutional investors have recently made changes to their positions in CFG. Amundi Pioneer Asset Management Inc. increased its stake in Citizens Financial Group by 2.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock worth $18,448,000 after purchasing an additional 15,663 shares during the period. HighTower Advisors LLC grew its position in shares of Citizens Financial Group by 10.5% in the 2nd quarter. HighTower Advisors LLC now owns 20,518 shares of the bank’s stock worth $943,000 after buying an additional 1,943 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Citizens Financial Group by 12.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 78,579 shares of the bank’s stock worth $3,604,000 after buying an additional 8,565 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Citizens Financial Group by 8.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 541,646 shares of the bank’s stock worth $24,845,000 after buying an additional 40,590 shares during the last quarter. Finally, Empirical Finance LLC bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth approximately $237,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Citizens Financial Group (NYSE:CFG)

Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

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