Citizens Financial Group, Inc. $CFG Stock Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 49.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,018 shares of the bank’s stock after selling 30,067 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Citizens Financial Group were worth $1,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC grew its holdings in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after buying an additional 323 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of Citizens Financial Group in the 1st quarter worth $27,000. Carolina Wealth Advisors LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth $29,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth $35,000. Finally, Virtus Advisers LLC purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 3.0%

Shares of CFG opened at $63.77 on Friday. The firm has a market cap of $26.73 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33. The company’s 50-day moving average price is $66.44 and its 200 day moving average price is $65.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.52 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Jefferies Financial Group lifted their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. TD Cowen began coverage on shares of Citizens Financial Group in a report on Thursday, October 8th. They issued a “buy” rating and a $75.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Cantor Fitzgerald dropped their price target on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.28.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.