Citizens Financial Group (CFG) Sees Unusually-High Trading Volume

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Citizens Financial Group Inc (NYSE:CFG) saw strong trading volume on Tuesday . 379,865 shares changed hands during trading, a decline of 92% from the previous session’s volume of 4,674,250 shares.The stock last traded at $35.94 and had previously closed at $36.06.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Macquarie raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday. Bank of America raised shares of Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Monday, October 22nd. Finally, BMO Capital Markets reduced their target price on shares of Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $44.64.

The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 0.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 1.00.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 19th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.03. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts predict that Citizens Financial Group Inc will post 3.52 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 41.86%.

In other news, Director Charles John Koch purchased 14,000 shares of the stock in a transaction on Tuesday, October 23rd. The stock was bought at an average price of $36.32 per share, for a total transaction of $508,480.00. Following the acquisition, the director now directly owns 49,937 shares of the company’s stock, valued at approximately $1,813,711.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shivan S. Subramaniam purchased 3,000 shares of the stock in a transaction on Wednesday, November 21st. The shares were purchased at an average price of $35.32 per share, with a total value of $105,960.00. Following the acquisition, the director now directly owns 38,963 shares in the company, valued at $1,376,173.16. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CFG. First Mercantile Trust Co. acquired a new position in Citizens Financial Group during the 2nd quarter worth approximately $102,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Citizens Financial Group by 8,430.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,815 shares of the bank’s stock worth $110,000 after acquiring an additional 2,782 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Citizens Financial Group during the 3rd quarter worth approximately $113,000. Synovus Financial Corp grew its holdings in Citizens Financial Group by 67.3% during the 3rd quarter. Synovus Financial Corp now owns 3,524 shares of the bank’s stock worth $137,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Citizens Financial Group during the 3rd quarter worth approximately $158,000. Institutional investors own 97.73% of the company’s stock.

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About Citizens Financial Group (NYSE:CFG)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading: Understanding Average Daily Trade Volume

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