Short Interest in Citizens Financial Group, Inc. (NYSE:CFG) Expands By 9.7%
Citizens Financial Group, Inc. (NYSE:CFG – Get Free Report) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 24,320,000 shares, an increase of 9.7% from the October 31st total of 22,170,000 shares. Based on an average trading volume of 5,390,000 shares, the days-to-cover ratio is presently 4.5 days.
Citizens Financial Group Stock Up 4.6 %
NYSE CFG traded up $1.25 during trading on Friday, hitting $28.52. 7,566,890 shares of the company traded hands, compared to its average volume of 4,590,847. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $44.82. The business has a fifty day simple moving average of $25.81 and a 200 day simple moving average of $27.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $13.30 billion, a P/E ratio of 7.09 and a beta of 1.41.
Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its earnings results on Wednesday, October 18th. The bank reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.06). Citizens Financial Group had a net margin of 17.61% and a return on equity of 9.60%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the business earned $1.30 earnings per share. As a group, sell-side analysts predict that Citizens Financial Group will post 3.64 EPS for the current year.
Citizens Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.68 annualized dividend and a dividend yield of 5.89%. Citizens Financial Group’s dividend payout ratio is presently 41.79%.
Hedge Funds Weigh In On Citizens Financial Group
Several large investors have recently made changes to their positions in the business. Resurgent Financial Advisors LLC acquired a new position in Citizens Financial Group in the 4th quarter valued at approximately $28,000. Clear Street Markets LLC raised its holdings in Citizens Financial Group by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after acquiring an additional 466 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Citizens Financial Group by 63.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 984 shares of the bank’s stock valued at $26,000 after acquiring an additional 381 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at approximately $26,000. Finally, Lindbrook Capital LLC raised its holdings in Citizens Financial Group by 100.8% in the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after acquiring an additional 496 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on CFG shares. Morgan Stanley decreased their target price on Citizens Financial Group from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Wolfe Research upgraded Citizens Financial Group from an “underperform” rating to a “peer perform” rating in a report on Monday, October 23rd. Citigroup reiterated a “neutral” rating and set a $33.00 price objective on shares of Citizens Financial Group in a report on Tuesday, September 19th. Stephens reiterated an “overweight” rating and set a $36.00 price objective on shares of Citizens Financial Group in a report on Friday, September 8th. Finally, Royal Bank of Canada cut their price objective on Citizens Financial Group from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, September 12th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and a consensus target price of $33.79.
Check Out Our Latest Stock Report on Citizens Financial Group
About Citizens Financial Group (Get 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.
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Original: MarketBeat News Feed: Short Interest in Citizens Financial Group, Inc. (NYSE:CFG) Expands By 9.7%