Legacy Capital Group California Inc. Lowers Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Legacy Capital Group California Inc. lowered its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,461 shares of the bank’s stock after selling 610 shares during the quarter. Citizens Financial Group makes up 0.6% of Legacy Capital Group California Inc.’s portfolio, making the stock its 23rd biggest holding. Legacy Capital Group California Inc.’s holdings in Citizens Financial Group were worth $2,033,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. My Legacy Advisors LLC increased its holdings in Citizens Financial Group by 1.0% in the 4th quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 229 shares during the last quarter. Brooklyn Investment Group grew its position in shares of Citizens Financial Group by 3.3% during the fourth quarter. Brooklyn Investment Group now owns 7,304 shares of the bank’s stock valued at $320,000 after purchasing an additional 233 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Citizens Financial Group by 0.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank’s stock worth $1,257,000 after purchasing an additional 246 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Citizens Financial Group by 3.3% in the fourth quarter. Ballentine Partners LLC now owns 7,777 shares of the bank’s stock worth $340,000 after buying an additional 247 shares in the last quarter. Finally, Commerce Bank boosted its stake in Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock valued at $541,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $46.21 on Friday. The stock has a 50 day moving average price of $45.79 and a 200 day moving average price of $43.87. Citizens Financial Group, Inc. has a 52-week low of $30.30 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $20.20 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.82 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 3.64%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Piper Sandler boosted their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Citigroup upped their price target 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. Truist Financial lifted their price objective on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.00.

About Citizens Financial Group

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.