Richardson Financial Services Inc. Has $186,000 Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Richardson Financial Services Inc. trimmed its position in Citizens Financial Group, Inc. (NYSE:CFG) by 10.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,150 shares of the bank’s stock after selling 580 shares during the quarter. Richardson Financial Services Inc.’s holdings in Citizens Financial Group were worth $186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jump Financial LLC bought a new position in Citizens Financial Group in the fourth quarter valued at about $297,000. Janney Montgomery Scott LLC boosted its stake in shares of Citizens Financial Group by 155.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 125,282 shares of the bank’s stock valued at $4,152,000 after purchasing an additional 76,146 shares during the last quarter. Norges Bank bought a new position in shares of Citizens Financial Group in the 4th quarter valued at about $117,372,000. Gladstone Institutional Advisory LLC grew its position in shares of Citizens Financial Group by 5.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 11,574 shares of the bank’s stock worth $384,000 after buying an additional 584 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of Citizens Financial Group by 22.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 15,031 shares of the bank’s stock worth $498,000 after buying an additional 2,785 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group lifted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Piper Sandler raised their target price on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating for the company. Finally, Evercore ISI increased their target price on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.20.

Citizens Financial Group Trading Up 3.7 %

CFG opened at $42.21 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.42 and a beta of 1.08. The company has a 50-day simple moving average of $41.06 and a 200 day simple moving average of $37.04.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.98%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.