Cadence Bank Has $227,000 Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Cadence Bank cut its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 93.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,194 shares of the bank’s stock after selling 69,339 shares during the period. Cadence Bank’s holdings in Citizens Financial Group were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CFG. My Legacy Advisors LLC raised its position in Citizens Financial Group by 1.0% in the 4th quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank’s stock worth $1,074,000 after purchasing an additional 229 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Citizens Financial Group by 3.3% during the fourth quarter. Brooklyn Investment Group now owns 7,304 shares of the bank’s stock worth $320,000 after acquiring an additional 233 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Citizens Financial Group by 3.2% in the fourth quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank’s stock valued at $338,000 after acquiring an additional 238 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Citizens Financial Group by 0.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank’s stock worth $1,257,000 after purchasing an additional 246 shares during the period. Finally, Ballentine Partners LLC raised its holdings in Citizens Financial Group by 3.3% during the 4th quarter. Ballentine Partners LLC now owns 7,777 shares of the bank’s stock worth $340,000 after purchasing an additional 247 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CFG. Stephens lowered their price target on shares of Citizens Financial Group from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. Truist Financial lowered their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating for the company in a report on Thursday. DA Davidson decreased their price objective on Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods cut their target price on Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group decreased their target price on Citizens Financial Group from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $45.82.

Citizens Financial Group Stock Performance

CFG opened at $35.43 on Friday. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.81 and a beta of 0.81. The business’s 50-day moving average price is $40.88 and its two-hundred day moving average price is $43.61. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85.

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

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 53.33%.

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.