Citizens Financial Group Inc (NYSE:CFG) Short Interest Down 27.4% in October

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Citizens Financial Group Inc (NYSE:CFG) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 8,450,000 shares, a drop of 27.4% from the September 30th total of 11,640,000 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,230,000 shares, the days-to-cover ratio is currently 2.0 days.

In related news, Director Charles John Koch acquired 15,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $32.45 per share, for a total transaction of $486,750.00. Following the transaction, the director now owns 68,781 shares in the company, valued at approximately $2,231,943.45. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CFG. Wealthcare Advisory Partners LLC grew its holdings in shares of Citizens Financial Group by 23,866.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 719 shares of the bank’s stock valued at $25,000 after purchasing an additional 716 shares during the last quarter. Atwater Malick LLC bought a new position in shares of Citizens Financial Group during the 3rd quarter valued at $30,000. Assetmark Inc. grew its holdings in Citizens Financial Group by 243.6% in the 2nd quarter. Assetmark Inc. now owns 962 shares of the bank’s stock worth $34,000 after acquiring an additional 682 shares during the last quarter. Rational Advisors LLC grew its holdings in Citizens Financial Group by 444.8% in the 3rd quarter. Rational Advisors LLC now owns 1,106 shares of the bank’s stock worth $39,000 after acquiring an additional 903 shares during the last quarter. Finally, Oakworth Capital Inc. grew its holdings in Citizens Financial Group by 739.0% in the 2nd quarter. Oakworth Capital Inc. now owns 1,183 shares of the bank’s stock worth $41,000 after acquiring an additional 1,042 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on CFG shares. Morgan Stanley lowered their price objective on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Citigroup cut shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $39.00 to $32.00 in a research report on Tuesday, October 8th. Argus upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Monday, July 29th. Zacks Investment Research upgraded shares of Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.65.

Shares of CFG stock traded down $0.33 on Thursday, hitting $37.57. 3,254,956 shares of the company’s stock traded hands, compared to its average volume of 4,436,650. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.96 and a current ratio of 0.97. Citizens Financial Group has a one year low of $27.62 and a one year high of $38.63. The company’s fifty day simple moving average is $35.57 and its 200 day simple moving average is $35.06. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.66 and a beta of 1.48.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 18th. The bank reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. Citizens Financial Group had a net margin of 22.29% and a return on equity of 8.85%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citizens Financial Group will post 3.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Tuesday, October 29th. Citizens Financial Group’s dividend payout ratio is currently 40.45%.

Citizens Financial Group Company Profile

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

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