Truist Financial Corp Lowers Position in Citizens Financial Group, Inc. (NYSE:CFG)

Truist Financial Corp trimmed its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,111 shares of the bank’s stock after selling 32,867 shares during the quarter. Truist Financial Corp’s holdings in Citizens Financial Group were worth $6,267,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CFG. Lindbrook Capital LLC lifted its position in 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 buying an additional 496 shares in the last quarter. Larson Financial Group LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC acquired a new position in Citizens Financial Group during the third quarter valued at approximately $40,000. CVA Family Office LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at approximately $40,000. Finally, Blue Trust Inc. lifted its position in 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 buying an additional 574 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CFG. Citigroup lifted 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. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Argus boosted their target price on shares of Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wedbush reduced their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.73.

Citizens Financial Group Stock Up 1.1 %

CFG stock opened at $35.39 on Friday. 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. The firm has a fifty day moving average price of $34.04 and a two-hundred day moving average price of $31.24. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 12.82 and a beta of 1.36.

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

Citizens Financial Group Announces Dividend

The firm 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 of this dividend is Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.75%. Citizens Financial Group’s payout ratio is 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the company’s 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 in the company, valued at $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by insiders.

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.