State of Tennessee Department of Treasury Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

State of Tennessee Department of Treasury lowered its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,238 shares of the bank's stock after selling 7,805 shares during the quarter. State of Tennessee Department of Treasury's holdings in Citizens Financial Group were worth $7,493,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Ameliora Wealth Management Ltd. acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Citizens Financial Group during the 4th quarter valued at $28,000. Sierra Ocean LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth $47,000. Duncker Streett & Co. Inc. acquired a new position in Citizens Financial Group in the fourth quarter valued at about $51,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Citizens Financial Group during the fourth quarter worth about $66,000. Institutional investors own 94.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. DA Davidson reduced their target price on Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Morgan Stanley dropped their price objective on Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating for the company in a research 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. Finally, Stephens decreased their target price on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.18.

Citizens Financial Group Stock Performance

NYSE:CFG traded down $0.66 during trading on Wednesday, reaching $36.47. The company's stock had a trading volume of 971,539 shares, compared to its average volume of 4,784,732. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a 50 day moving average of $39.50 and a 200-day moving average of $43.38.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is presently 53.33%.

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.