Citizens Financial Group Inc. (CFG) Short Interest Update
Citizens Financial Group Inc. (NYSE:CFG) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 9,179,701 shares, an increase of 40.7% from the October 14th total of 6,525,611 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 5,023,406 shares, the short-interest ratio is presently 1.8 days.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Citizens Financial Group by 927.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,239 shares of the company’s stock valued at $105,000 after buying an additional 4,729 shares in the last quarter. Virtus Investment Advisers Inc. bought a new position in shares of Citizens Financial Group during the third quarter valued at $106,000. Point72 Asset Management L.P. bought a new position in shares of Citizens Financial Group during the second quarter valued at $110,000. Capital Analysts LLC boosted its position in shares of Citizens Financial Group by 2,002.7% in the second quarter. Capital Analysts LLC now owns 1,535 shares of the company’s stock valued at $111,000 after buying an additional 1,462 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Citizens Financial Group by 148.3% in the third quarter. Global X Management Co. LLC now owns 4,711 shares of the company’s stock valued at $116,000 after buying an additional 2,814 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
CFG has been the topic of a number of recent research reports. Wedbush initiated coverage on Citizens Financial Group in a research report on Thursday, October 6th. They set an “outperform” rating and a $29.00 price objective on the stock. Citigroup Inc. upped their price objective on Citizens Financial Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, October 12th. Credit Suisse Group AG upped their price objective on Citizens Financial Group from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, September 8th. Zacks Investment Research upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Finally, TheStreet upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $28.38.
Citizens Financial Group (NYSE:CFG) opened at 30.94 on Wednesday. The firm’s 50-day moving average price is $26.22 and its 200 day moving average price is $23.51. Citizens Financial Group has a 12-month low of $18.04 and a 12-month high of $31.17. The stock has a market capitalization of $16.03 billion, a P/E ratio of 16.82 and a beta of 1.10.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 21st. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Citizens Financial Group had a return on equity of 4.88% and a net margin of 17.53%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities analysts anticipate that Citizens Financial Group will post $1.93 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 16th. Stockholders of record on Wednesday, November 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, October 31st. Citizens Financial Group’s dividend payout ratio is currently 25.95%.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.
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