Citizens Financial Group Inc (NYSE:CFG) Short Interest Down 41.3% in August

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Citizens Financial Group Inc (NYSE:CFG) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 6,101,000 shares, a decrease of 41.3% from the July 31st total of 10,396,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 4,320,000 shares, the days-to-cover ratio is currently 1.4 days.

Shares of NYSE:CFG traded up $0.46 during trading on Friday, reaching $36.83. 4,076,588 shares of the company were exchanged, compared to its average volume of 4,474,755. The firm has a market capitalization of $16.26 billion, a PE ratio of 10.35, a P/E/G ratio of 1.75 and a beta of 1.47. The business’s fifty day simple moving average is $34.15 and its 200-day simple moving average is $34.80. Citizens Financial Group has a 12-month low of $27.62 and a 12-month high of $41.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.96 and a quick ratio of 0.95.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, July 19th. The bank reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Citizens Financial Group had a net margin of 22.61% and a return on equity of 8.94%. During the same period last year, the company posted $0.88 earnings per share. On average, sell-side analysts anticipate that Citizens Financial Group will post 3.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.91%. Citizens Financial Group’s dividend payout ratio (DPR) is 40.45%.

A number of analysts recently weighed in on CFG shares. Zacks Investment Research lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 price objective on the stock. in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on shares of Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Citigroup lowered shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $35.00 in a research report on Friday, July 12th. Argus raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Monday, July 29th. Finally, UBS Group lowered shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $38.00 in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $40.42.

In other news, Director Charles John Koch acquired 15,000 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of $32.45 per share, with a total value of $486,750.00. Following the transaction, the director now directly owns 68,781 shares of the company’s stock, valued at approximately $2,231,943.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Citizens Financial Group by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,101,998 shares of the bank’s stock valued at $92,223,000 after purchasing an additional 103,295 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Citizens Financial Group by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 6,302,325 shares of the bank’s stock valued at $187,048,000 after purchasing an additional 398,877 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Citizens Financial Group by 277.9% during the first quarter. Victory Capital Management Inc. now owns 373,203 shares of the bank’s stock valued at $12,129,000 after purchasing an additional 274,441 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Citizens Financial Group by 148.6% during the first quarter. Stephens Inc. AR now owns 64,664 shares of the bank’s stock valued at $2,102,000 after purchasing an additional 38,654 shares in the last quarter. Finally, First Allied Advisory Services Inc. bought a new position in shares of Citizens Financial Group during the first quarter valued at approximately $234,000. 96.78% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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