Cadence Bank Reduces Position in Citizens Financial Group, Inc. (NYSE:CFG)

Cadence Bank reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 93.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,194 shares of the bank's stock after selling 69,339 shares during the period. Cadence Bank's holdings in Citizens Financial Group were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CFG. Norges Bank bought a new position in shares of Citizens Financial Group during the 4th quarter valued at about $243,431,000. Wellington Management Group LLP lifted its position in Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock worth $462,547,000 after buying an additional 2,298,040 shares during the last quarter. Raymond James Financial Inc. bought a new position in Citizens Financial Group during the fourth quarter valued at $56,483,000. Bank of New York Mellon Corp lifted its holdings in shares of Citizens Financial Group by 31.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank's stock worth $155,051,000 after acquiring an additional 839,041 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after purchasing an additional 805,758 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CFG. Citigroup cut their target price on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Piper Sandler decreased their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Morgan Stanley cut their price target on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. DA Davidson lowered their price objective on shares of Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $46.18.

Citizens Financial Group Stock Down 0.3 %

Shares of Citizens Financial Group stock traded down $0.12 on Friday, reaching $37.32. The stock had a trading volume of 1,049,971 shares, compared to its average volume of 4,773,379. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25. The company has a 50 day moving average price of $40.07 and a 200 day moving average price of $43.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $16.32 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.50%. Citizens Financial Group's payout ratio is 53.33%.

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.