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

Cary Street Partners Asset Management LLC lessened its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 21.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,071 shares of the bank’s stock after selling 36,480 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Citizens Financial Group were worth $4,311,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after acquiring an additional 496 shares during the period. Larson Financial Group LLC acquired a new position in shares of Citizens Financial Group during the fourth quarter valued at $33,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Citizens Financial Group during the third quarter valued at $40,000. CVA Family Office LLC acquired a new position in shares of Citizens Financial Group during the fourth quarter valued at $40,000. Finally, Blue Trust Inc. lifted its stake in shares of Citizens Financial Group by 77.6% during the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

NYSE CFG traded up $0.65 during trading hours on Wednesday, reaching $34.76. 1,233,973 shares of the stock traded hands, compared to its average volume of 5,709,105. 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 stock has a 50 day simple moving average of $33.80 and a two-hundred day simple moving average of $31.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. 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 announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, analysts predict 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. Shareholders of record on Wednesday, May 1st will be paid 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 yield of 4.83%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Transactions at Citizens Financial Group

In related 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 value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CFG. Argus increased their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush reduced their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $41.00 in a research report on Friday, April 26th. Finally, Morgan Stanley lifted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and an average 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.