Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in Citizens Financial Group, Inc. (NYSE:CFG) by 12.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 159,988 shares of the bank’s stock after selling 22,335 shares during the period. Truist Financial Corp’s holdings in Citizens Financial Group were worth $7,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CFG. Wellington Management Group LLP lifted its stake in shares of Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after acquiring an additional 5,579,313 shares during the period. State Street Corp lifted its stake in shares of Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after acquiring an additional 1,615,144 shares during the period. Bank of Montreal Can lifted its stake in shares of Citizens Financial Group by 51.1% in the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after acquiring an additional 894,322 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Citizens Financial Group by 124.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,511,148 shares of the bank’s stock worth $62,063,000 after acquiring an additional 838,917 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after acquiring an additional 805,758 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $44.87 on Friday. The firm has a 50 day simple moving average of $45.79 and a 200-day simple moving average of $43.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $19.61 billion, a PE ratio of 14.81, a P/E/G ratio of 0.81 and a beta of 1.10. Citizens Financial Group, Inc. has a 1-year low of $30.30 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio is presently 55.45%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stephens reiterated an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Finally, Citigroup raised their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company 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.