Cary Street Partners Investment Advisory LLC Sells 168,385 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Cary Street Partners Investment Advisory LLC cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 94.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,858 shares of the bank's stock after selling 168,385 shares during the quarter. Cary Street Partners Investment Advisory LLC's holdings in Citizens Financial Group were worth $327,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Citizens Financial Group in the fourth quarter worth about $1,959,000. Alps Advisors Inc. grew its position in shares of Citizens Financial Group by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 12,212 shares of the bank's stock worth $327,000 after acquiring an additional 2,992 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of Citizens Financial Group by 49.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank's stock valued at $42,970,000 after acquiring an additional 431,624 shares during the last quarter. abrdn plc increased its holdings in shares of Citizens Financial Group by 66.0% in the 4th quarter. abrdn plc now owns 199,260 shares of the bank's stock valued at $6,603,000 after acquiring an additional 79,247 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. raised its position in shares of Citizens Financial Group by 3,222.9% during the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank's stock valued at $31,168,000 after acquiring an additional 1,128,000 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFG has been the subject of several recent research reports. Piper Sandler upgraded shares of Citizens Financial Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $35.00 to $41.00 in a research note on Friday, April 26th. Wedbush lowered their price objective on shares of Citizens Financial Group from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, April 8th. JPMorgan Chase & Co. decreased their target price on Citizens Financial Group from $36.50 to $36.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, StockNews.com cut Citizens Financial Group from a "hold" rating to a "sell" rating in a research report on Saturday, April 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Citizens Financial Group presently has an average rating of "Hold" and an average price target of $37.73.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the transaction, the insider now directly owns 43,885 shares of the company's stock, valued at $1,471,902.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Citizens Financial Group Stock Performance

Shares of NYSE CFG traded up $0.29 during midday trading on Thursday, reaching $34.99. 3,305,539 shares of the company traded hands, compared to its average volume of 5,735,424. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 12.57 and a beta of 1.36. The stock has a 50-day moving average price of $33.87 and a 200 day moving average price of $31.15. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $36.38. 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 (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm's quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.24 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 Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.80%. Citizens Financial Group's dividend payout ratio (DPR) is 60.87%.

Citizens Financial Group Company Profile

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.