Citizens Financial Group, Inc. $CFG Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 36.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,852 shares of the bank’s stock after selling 42,654 shares during the quarter. Cibc World Market Inc.’s holdings in Citizens Financial Group were worth $4,314,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CFG. Activest Wealth Management boosted its holdings in shares of Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after acquiring an additional 504 shares during the period. State of Wyoming acquired a new stake in Citizens Financial Group in the second quarter worth about $39,000. Fortitude Family Office LLC lifted its holdings in Citizens Financial Group by 632.0% in the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock worth $41,000 after purchasing an additional 613 shares during the period. Kestra Investment Management LLC lifted its holdings in Citizens Financial Group by 2,703.0% in the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock worth $41,000 after purchasing an additional 892 shares during the period. Finally, Elyxium Wealth LLC acquired a new stake in Citizens Financial Group in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $64.09 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $62.84 and its two-hundred day moving average price is $60.88. Citizens Financial Group, Inc. has a 52 week low of $40.17 and a 52 week high of $68.79. The stock has a market cap of $27.10 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.51 and a beta of 0.68.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business earned $0.77 earnings per share. Citizens Financial Group’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.46 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.84 annualized dividend and a yield of 2.9%. Citizens Financial Group’s payout ratio is 43.50%.

Insider Activity

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CFG. DA Davidson upped their price objective on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Robert W. Baird raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Monday, March 9th. Truist Financial upped their price objective on shares of Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Royal Bank Of Canada upped their price objective on shares of Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Nineteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $70.88.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.