Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,416 shares of the bank’s stock after selling 2,023 shares during the period. Retirement Systems of Alabama’s holdings in Citizens Financial Group were worth $4,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CFG. Atomi Financial Group Inc. acquired a new position in Citizens Financial Group in the third quarter valued at $231,000. CWM LLC raised its holdings in shares of Citizens Financial Group by 102.5% in the third quarter. CWM LLC now owns 82,433 shares of the bank’s stock valued at $3,386,000 after buying an additional 41,734 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Citizens Financial Group by 483.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,500 shares of the bank’s stock valued at $144,000 after buying an additional 2,900 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Citizens Financial Group by 86.8% in the third quarter. Ritholtz Wealth Management now owns 11,119 shares of the bank’s stock valued at $457,000 after buying an additional 5,167 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Citizens Financial Group by 558.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,712 shares of the bank’s stock valued at $70,000 after buying an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CFG. Keefe, Bruyette & Woods upped their target price on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 21st. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Stephens reissued an “overweight” rating and set a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. The Goldman Sachs Group increased their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial increased their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Stock Down 1.2 %

CFG stock opened at $47.37 on Tuesday. The company’s 50 day simple moving average is $45.77 and its 200-day simple moving average is $43.63. The firm has a market capitalization of $20.88 billion, a PE ratio of 15.63, a P/E/G ratio of 0.84 and a beta of 1.10. Citizens Financial Group, Inc. has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. Equities analysts expect that Citizens Financial Group, Inc. will post 3.93 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.42 per share. The ex-dividend date is Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 3.55%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

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.