Citizens Financial Group, Inc. $CFG Shares Sold by Siena Capital Partners GP LLC

Key Points

• Siena Capital Partners GP LLC cut its Citizens Financial Group stake by 17.4% in the fourth quarter, leaving it with 92,831 shares valued at about $5.42 million.
• Citizens Financial Group reported strong quarterly results, with EPS of $1.13 beating estimates and revenue of $2.17 billion slightly topping forecasts; revenue rose 12% year over year.
• The stock also has supportive analyst sentiment, with multiple firms raising price targets and a consensus rating of “Moderate Buy” with an average target price of $70.88.

Siena Capital Partners GP LLC lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 17.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,831 shares of the bank's stock after selling 19,500 shares during the period. Citizens Financial Group makes up 1.5% of Siena Capital Partners GP LLC's holdings, making the stock its 19th biggest holding. Siena Capital Partners GP LLC's holdings in Citizens Financial Group were worth $5,422,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its holdings in shares of Citizens Financial Group by 5,600.0% in the fourth quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after purchasing an additional 504 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Citizens Financial Group by 632.0% in the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock valued at $41,000 after purchasing an additional 613 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $50,000. State of Wyoming acquired a new position in shares of Citizens Financial Group in the second quarter valued at approximately $39,000. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of Citizens Financial Group by 261.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 893 shares of the bank's stock valued at $52,000 after purchasing an additional 646 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Insider Buying and Selling

In related news, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the transaction, the insider directly owned 22,565 shares of the company's stock, valued at $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Susan Lamonica sold 13,258 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the transaction, the insider owned 165,971 shares of the company's stock, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.67% of the company's stock.

Citizens Financial Group Stock Up 0.2%

Shares of Citizens Financial Group stock opened at $64.09 on Monday. The company has a 50 day moving average of $62.84 and a 200 day moving average of $60.88. The company has a market capitalization of $27.10 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.51 and a beta of 0.68. Citizens Financial Group, Inc. has a 52-week low of $40.17 and a 52-week high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. As a group, research analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group's dividend payout ratio is 43.50%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CFG. Truist Financial lifted their price objective on shares of Citizens Financial Group from $63.00 to $69.00 and gave the company a "hold" rating in a report on Friday, April 17th. JPMorgan Chase & Co. lifted their price objective on shares of Citizens Financial Group from $68.00 to $68.50 and gave the company an "overweight" rating in a report on Thursday, April 30th. Robert W. Baird upgraded shares of Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price objective for the company in a report on Monday, March 9th. Weiss Ratings upgraded shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Finally, Evercore reiterated an "outperform" rating and issued a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.88.

About Citizens Financial Group

Citizens Financial Group, Inc NYSE: CFG is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.