Investors Buy Large Volume of Citizens Financial Group Put Options (NYSE:CFG)

Citizens Financial Group Inc (NYSE:CFG) saw some unusual options trading activity on Thursday. Traders acquired 1,205 put options on the stock. This represents an increase of approximately 1,551% compared to the typical volume of 73 put options.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC raised its position in Citizens Financial Group by 8.6% during the fourth quarter. Cerebellum GP LLC now owns 13,562 shares of the bank’s stock valued at $551,000 after acquiring an additional 1,076 shares in the last quarter. AE Wealth Management LLC raised its position in Citizens Financial Group by 52.0% during the fourth quarter. AE Wealth Management LLC now owns 16,986 shares of the bank’s stock valued at $690,000 after acquiring an additional 5,812 shares in the last quarter. Newman Dignan & Sheerar Inc. raised its position in Citizens Financial Group by 4.2% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 15,320 shares of the bank’s stock valued at $622,000 after acquiring an additional 617 shares in the last quarter. Coastline Trust Co raised its position in Citizens Financial Group by 30.1% during the fourth quarter. Coastline Trust Co now owns 80,450 shares of the bank’s stock valued at $3,267,000 after acquiring an additional 18,630 shares in the last quarter. Finally, Fulton Breakefield Broenniman LLC raised its position in Citizens Financial Group by 14.5% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 10,194 shares of the bank’s stock valued at $414,000 after acquiring an additional 1,290 shares in the last quarter. Institutional investors own 95.71% of the company’s stock.

Shares of CFG opened at $39.59 on Friday. Citizens Financial Group has a one year low of $31.30 and a one year high of $40.92. The company has a 50-day moving average of $39.75 and a two-hundred day moving average of $36.50. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 2.35 and a beta of 1.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.96.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 18th. The bank reported $0.98 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that Citizens Financial Group will post 3.81 earnings per share for the current year.

Several equities analysts have recently weighed in on CFG shares. JPMorgan Chase & Co. reduced their price objective on shares of Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a research report on Thursday, October 10th. 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 for the company in a research report on Wednesday, October 23rd. ValuEngine cut shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Morgan Stanley decreased their target price on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Citigroup upgraded shares of Citizens Financial Group from a “sell” rating to a “neutral” rating and raised their target price for the stock from $32.00 to $41.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.19.

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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