Citizens Financial Group, Inc. $CFG is Rhino Investment Partners Inc’s 8th Largest Position

Rhino Investment Partners Inc trimmed its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 22.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,035 shares of the bank’s stock after selling 91,917 shares during the quarter. Citizens Financial Group comprises approximately 5.5% of Rhino Investment Partners Inc’s portfolio, making the stock its 8th biggest position. Rhino Investment Partners Inc’s holdings in Citizens Financial Group were worth $17,332,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its holdings in Citizens Financial Group by 891.5% during the third quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock worth $31,000 after purchasing an additional 526 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of Citizens Financial Group by 3,970.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock valued at $36,000 after buying an additional 794 shares in the last quarter. State of Wyoming purchased a new position in shares of Citizens Financial Group in the 2nd quarter valued at $39,000. Kestra Investment Management LLC raised its stake in Citizens Financial Group by 2,703.0% during the 2nd quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock worth $41,000 after acquiring an additional 892 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Citizens Financial Group during the 2nd quarter worth $45,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Down 2.4%

Shares of NYSE:CFG opened at $55.59 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $62.41 and its 200-day simple moving average is $56.60. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.46 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were paid a $0.46 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.3%. Citizens Financial Group’s payout ratio is 47.55%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the transaction, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CFG has been the subject of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $73.00 target price on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Truist Financial boosted their target price on Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a report on Monday, January 26th. Bank of America upped their target price on Citizens Financial Group from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, March 3rd. Twenty research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.