Teacher Retirement System of Texas Sells 118,817 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Teacher Retirement System of Texas trimmed its position in Citizens Financial Group, Inc. (NYSE:CFG) by 22.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 419,076 shares of the bank’s stock after selling 118,817 shares during the quarter. Teacher Retirement System of Texas’ holdings in Citizens Financial Group were worth $18,339,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CFG. OneDigital Investment Advisors LLC bought a new stake in Citizens Financial Group during the third quarter worth about $232,000. Empowered Funds LLC raised its holdings in Citizens Financial Group by 8.4% during the third quarter. Empowered Funds LLC now owns 7,487 shares of the bank’s stock worth $307,000 after acquiring an additional 579 shares in the last quarter. Pathstone Holdings LLC raised its holdings in Citizens Financial Group by 7.7% during the third quarter. Pathstone Holdings LLC now owns 154,546 shares of the bank’s stock worth $6,347,000 after acquiring an additional 11,044 shares in the last quarter. Prospera Financial Services Inc bought a new stake in Citizens Financial Group during the third quarter worth about $227,000. Finally, Commerce Bank raised its holdings in Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after acquiring an additional 250 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial dropped their target price on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday. Piper Sandler upped their target price on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays upped their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Compass Point upped 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. Finally, Morgan Stanley dropped their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.06.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $41.19 on Friday. Citizens Financial Group, Inc. has a 12 month low of $32.06 and a 12 month high of $49.25. The stock’s 50 day moving average is $45.12 and its 200-day moving average is $44.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 13.59, 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. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

Citizens Financial Group 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.