Intrust Bank NA Raises Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Intrust Bank NA increased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,556 shares of the bank’s stock after acquiring an additional 950 shares during the period. Intrust Bank NA’s holdings in Citizens Financial Group were worth $913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Paradigm Financial Partners LLC grew its stake in Citizens Financial Group by 16.3% in the fourth quarter. Paradigm Financial Partners LLC now owns 49,409 shares of the bank’s stock worth $1,637,000 after purchasing an additional 6,935 shares during the period. VCI Wealth Management LLC purchased a new position in Citizens Financial Group during the 4th quarter valued at about $216,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in Citizens Financial Group by 4.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,155 shares of the bank’s stock worth $469,000 after acquiring an additional 619 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $204,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Citizens Financial Group by 904.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,139 shares of the bank’s stock valued at $71,000 after purchasing an additional 1,926 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares of the company’s stock, valued at approximately $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CFG shares. Keefe, Bruyette & Woods upped their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Royal Bank of Canada upped their price target on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. StockNews.com lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Saturday. Wedbush cut their price target on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Finally, Citigroup raised their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.13.

Citizens Financial Group Price Performance

NYSE:CFG traded down $0.06 during trading hours on Tuesday, hitting $34.50. 228,268 shares of the stock traded hands, compared to its average volume of 5,707,706. The stock has a 50 day moving average price of $33.75 and a 200 day moving average price of $31.07. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 12.67 and a beta of 1.38. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $36.38.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the company earned $1.00 EPS. The business’s revenue was down 7.9% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.87%. Citizens Financial Group’s dividend payout ratio is 60.87%.

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.