Cary Street Partners Asset Management LLC Has $4.31 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

Cary Street Partners Asset Management LLC reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,071 shares of the bank’s stock after selling 36,480 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Citizens Financial Group were worth $4,311,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Citizens Financial Group during the 4th quarter valued at about $1,959,000. Alps Advisors Inc. boosted its position in Citizens Financial Group by 32.5% in the third quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock valued at $327,000 after buying an additional 2,992 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Citizens Financial Group by 49.9% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock valued at $42,970,000 after buying an additional 431,624 shares in the last quarter. abrdn plc boosted its position in Citizens Financial Group by 66.0% in the fourth quarter. abrdn plc now owns 199,260 shares of the bank’s stock valued at $6,603,000 after buying an additional 79,247 shares in the last quarter. Finally, SeaTown Holdings Pte. Ltd. boosted its position in Citizens Financial Group by 3,222.9% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank’s stock valued at $31,168,000 after buying an additional 1,128,000 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was 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 $1,265,704.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Citizens Financial Group Price Performance

CFG traded up $0.65 on Wednesday, reaching $34.76. The company had a trading volume of 1,233,973 shares, compared to its average volume of 5,709,105. The business has a 50 day simple moving average of $33.80 and a 200 day simple moving average of $31.13. The company has a market cap of $15.94 billion, a price-to-earnings ratio of 12.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $36.38.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business posted $1.00 earnings per share. The company’s revenue was down 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.83%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CFG shares. Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Jefferies Financial Group boosted their target price on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. UBS Group boosted their target price on shares of Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Wedbush dropped their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Finally, Barclays downgraded shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $38.00 to $40.00 in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.13.

Citizens Financial Group 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.