Chevy Chase Trust Holdings LLC Cuts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Chevy Chase Trust Holdings LLC cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 258,790 shares of the bank’s stock after selling 1,645 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Citizens Financial Group worth $9,391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CFG. Larson Financial Group LLC purchased a new stake in Citizens Financial Group in the 4th quarter valued at $33,000. Quarry LP grew its holdings in Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after buying an additional 714 shares in the last quarter. CVA Family Office LLC purchased a new stake in Citizens Financial Group in the 4th quarter valued at $40,000. Blue Trust Inc. lifted its stake in shares of Citizens Financial Group by 77.6% in the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after purchasing an additional 574 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Citizens Financial Group by 40.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock valued at $54,000 after purchasing an additional 472 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Citizens Financial Group stock traded up $0.33 during mid-day trading on Wednesday, reaching $36.63. 2,392,208 shares of the company were exchanged, compared to its average volume of 5,305,188. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $37.30. The firm’s 50-day simple moving average is $35.29 and its two-hundred day simple moving average is $33.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $16.67 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 6.62% and a net margin of 11.52%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 earnings per share. Equities analysts predict that Citizens Financial Group, Inc. will post 3.17 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.59%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analysts Set New Price Targets

CFG has been the topic of several recent analyst reports. Argus upped their price target on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their price target on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $35.00 to $41.00 in a research note on Friday, April 26th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. Finally, Wedbush decreased their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.80.

Insider Activity

In related news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

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.