Charles Schwab Investment Management Inc. Trims Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Charles Schwab Investment Management Inc. reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,011,105 shares of the bank’s stock after selling 126,597 shares during the period. Charles Schwab Investment Management Inc. owned 1.59% of Citizens Financial Group worth $306,806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CFG. My Legacy Advisors LLC lifted its holdings in Citizens Financial Group by 1.0% during the fourth quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank’s stock valued at $1,074,000 after purchasing an additional 229 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Citizens Financial Group by 3.3% during the 4th quarter. Brooklyn Investment Group now owns 7,304 shares of the bank’s stock valued at $320,000 after purchasing an additional 233 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in Citizens Financial Group by 0.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank’s stock worth $1,257,000 after buying an additional 246 shares during the period. Ballentine Partners LLC boosted its holdings in Citizens Financial Group by 3.3% in the 4th quarter. Ballentine Partners LLC now owns 7,777 shares of the bank’s stock worth $340,000 after buying an additional 247 shares during the period. Finally, Commerce Bank increased its stake in Citizens Financial Group by 1.9% in the 3rd quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after buying an additional 250 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Down 0.7 %

Shares of CFG opened at $43.31 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $45.91 and a 200 day moving average of $44.23. The company has a market cap of $18.93 billion, a PE ratio of 14.29, a P/E/G ratio of 0.81 and a beta of 1.06. Citizens Financial Group, Inc. has a 52-week low of $32.06 and a 52-week high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 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 $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.88%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Analysts Set New Price Targets

CFG has been the topic of several research analyst reports. Stephens restated an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Barclays upped their price target on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup increased their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler boosted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

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.