Traders Sell Citizens Financial Group, Inc. (CFG) on Strength (CFG)

Investors sold shares of Citizens Financial Group, Inc. (NYSE:CFG) on strength during trading on Wednesday. $24.52 million flowed into the stock on the tick-up and $51.64 million flowed out of the stock on the tick-down, for a money net flow of $27.12 million out of the stock. Of all stocks tracked, Citizens Financial Group had the 24th highest net out-flow for the day. Citizens Financial Group traded up $0.50 for the day and closed at $37.18

Several equities analysts have recently weighed in on the stock. TheStreet raised shares of Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. BidaskClub cut shares of Citizens Financial Group from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Zacks Investment Research cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BMO Capital Markets reaffirmed a “market perform” rating and set a $39.00 price target (up from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $42.00 price target (up from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.12.

The company has a market capitalization of $18.61 billion, a P/E ratio of 15.88 and a beta of 1.37. The company’s 50 day moving average is $35.50 and its 200-day moving average is $35.35.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, analysts forecast that Citizens Financial Group, Inc. will post $2.54 earnings per share for the current year.

Citizens Financial Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $850.00 million in shares. This repurchase authorization allows the bank to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of large investors have recently made changes to their positions in the business. Alps Advisors Inc. grew its stake in Citizens Financial Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock valued at $459,000 after purchasing an additional 33 shares during the period. Smithfield Trust Co. grew its stake in Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after purchasing an additional 70 shares during the period. First Allied Advisory Services Inc. grew its stake in Citizens Financial Group by 1.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 7,101 shares of the bank’s stock valued at $250,000 after purchasing an additional 76 shares during the period. Veritable L.P. grew its stake in Citizens Financial Group by 1.2% in the 2nd quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock valued at $229,000 after purchasing an additional 79 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Citizens Financial Group by 0.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the bank’s stock valued at $1,120,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.

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