Cibc World Markets Corp Cuts Position in Citizens Financial Group, Inc. (NYSE:CFG)

Cibc World Markets Corp decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,871 shares of the bank’s stock after selling 17,355 shares during the quarter. Cibc World Markets Corp’s holdings in Citizens Financial Group were worth $3,058,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Corient Private Wealth LLC raised its position in Citizens Financial Group by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 85,535 shares of the bank’s stock worth $3,743,000 after acquiring an additional 802 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Citizens Financial Group by 16.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,957 shares of the bank’s stock worth $742,000 after acquiring an additional 2,415 shares in the last quarter. Natixis Advisors LLC raised its position in Citizens Financial Group by 6.2% in the fourth quarter. Natixis Advisors LLC now owns 691,795 shares of the bank’s stock worth $30,273,000 after acquiring an additional 40,160 shares in the last quarter. Poinciana Advisors Group LLC purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at $310,000. Finally, Brandes Investment Partners LP increased its position in shares of Citizens Financial Group by 11.4% in the fourth quarter. Brandes Investment Partners LP now owns 39,268 shares of the bank’s stock valued at $1,718,000 after buying an additional 4,031 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CFG shares. Piper Sandler raised their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Truist Financial raised their price target on Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Compass Point increased their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Finally, Citigroup increased their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.22.

Citizens Financial Group Stock Down 1.0 %

Shares of NYSE:CFG opened at $40.97 on Friday. The stock’s 50-day moving average price is $45.16 and its two-hundred day moving average price is $44.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 12-month low of $32.06 and a 12-month high of $49.25. The firm has a market cap of $17.91 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $0.85 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.10%. Citizens Financial Group’s dividend payout ratio (DPR) is 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.