ExodusPoint Capital Management LP Cuts Position in Citizens Financial Group, Inc. (NYSE:CFG)

Posted by on Sep 7th, 2023

ExodusPoint Capital Management LP decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 82.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,427 shares of the bank’s stock after selling 111,968 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Citizens Financial Group were worth $711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in shares of Citizens Financial Group by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 86,831 shares of the bank’s stock worth $3,419,000 after purchasing an additional 232 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in shares of Citizens Financial Group by 21.0% during the fourth quarter. Coastal Investment Advisors Inc. now owns 1,452 shares of the bank’s stock worth $57,000 after purchasing an additional 252 shares during the last quarter. Kinneret Advisory LLC boosted its stake in shares of Citizens Financial Group by 2.3% during the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock worth $603,000 after buying an additional 298 shares during the period. Heritage Wealth Management LLC boosted its stake in shares of Citizens Financial Group by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock worth $25,000 after buying an additional 323 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Citizens Financial Group by 7.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,904 shares of the bank’s stock valued at $193,000 after purchasing an additional 337 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Citizens Financial Group Trading Down 2.5 %

Shares of Citizens Financial Group stock opened at $27.68 on Thursday. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 6.29 and a beta of 1.35. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.65. Citizens Financial Group, Inc. has a 12-month low of $23.37 and a 12-month high of $44.82. The firm’s 50-day moving average price is $28.94 and its two-hundred day moving average price is $29.78.

Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its earnings results on Wednesday, July 19th. The bank reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.09 billion. Citizens Financial Group had a return on equity of 10.68% and a net margin of 20.41%. During the same period last year, the company posted $1.14 EPS. On average, analysts forecast that Citizens Financial Group, Inc. will post 3.82 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were issued a dividend of $0.42 per share. The ex-dividend date was Tuesday, August 1st. This represents a $1.68 annualized dividend and a yield of 6.07%. Citizens Financial Group’s payout ratio is 38.18%.

Analysts Set New Price Targets

CFG has been the subject of a number of recent research reports. Wedbush raised their price objective on shares of Citizens Financial Group from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Evercore ISI cut shares of Citizens Financial Group from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $32.00 to $29.00 in a report on Monday, July 10th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. The Goldman Sachs Group increased their target price on shares of Citizens Financial Group from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $33.00 target price on shares of Citizens Financial Group in a research note on Friday, July 21st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

View Our Latest Analysis on Citizens Financial Group

Citizens Financial Group Profile

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

Further Reading

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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