Charles Schwab Investment Management Inc. Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Charles Schwab Investment Management Inc. lessened its position in Citizens Financial Group, Inc. (NYSE:CFG) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,231,885 shares of the bank’s stock after selling 561,036 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.32% of Citizens Financial Group worth $283,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new stake in shares of Citizens Financial Group in the 4th quarter valued at $28,000. Clear Street Markets LLC raised its holdings in shares of Citizens Financial Group by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after buying an additional 466 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Citizens Financial Group by 63.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 984 shares of the bank’s stock valued at $26,000 after buying an additional 381 shares during the period. Fiduciary Alliance LLC purchased a new stake in shares of Citizens Financial Group in the 2nd quarter valued at $26,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Citizens Financial Group in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

CFG has been the topic of several research analyst reports. Royal Bank of Canada cut their price objective on Citizens Financial Group from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Tuesday, September 12th. Morgan Stanley lowered their target price on Citizens Financial Group from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. Citigroup reissued a “neutral” rating and set a $33.00 target price on shares of Citizens Financial Group in a research note on Tuesday, September 19th. Piper Sandler cut Citizens Financial Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $26.00 in a research note on Wednesday, October 25th. Finally, Wedbush boosted their target price on Citizens Financial Group from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and an average price target of $34.07.

Citizens Financial Group Trading Down 0.9 %

NYSE:CFG opened at $27.08 on Friday. The stock has a 50-day simple moving average of $25.90 and a 200-day simple moving average of $27.22. The stock has a market cap of $12.63 billion, a P/E ratio of 6.74 and a beta of 1.38. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $44.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.06). The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.04 billion. Citizens Financial Group had a return on equity of 9.60% and a net margin of 17.61%. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.64 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.20%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 41.79%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.