abrdn plc Sells 21,688 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

abrdn plc decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 152,814 shares of the bank's stock after selling 21,688 shares during the period. abrdn plc's holdings in Citizens Financial Group were worth $6,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. My Legacy Advisors LLC grew its holdings in shares of Citizens Financial Group by 1.0% in the 4th quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank's stock valued at $1,074,000 after buying an additional 229 shares during the period. Brooklyn Investment Group grew its holdings in shares of Citizens Financial Group by 3.3% in the 4th quarter. Brooklyn Investment Group now owns 7,304 shares of the bank's stock valued at $320,000 after buying an additional 233 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of Citizens Financial Group by 0.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank's stock valued at $1,257,000 after buying an additional 246 shares during the period. Ballentine Partners LLC grew its holdings in shares of Citizens Financial Group by 3.3% in the 4th quarter. Ballentine Partners LLC now owns 7,777 shares of the bank's stock valued at $340,000 after buying an additional 247 shares during the period. Finally, Commerce Bank grew its holdings in shares of Citizens Financial Group by 1.9% in the 3rd quarter. Commerce Bank now owns 13,177 shares of the bank's stock valued at $541,000 after buying an additional 250 shares during the period. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Down 2.1 %

CFG stock traded down $1.01 during midday trading on Wednesday, hitting $46.16. The stock had a trading volume of 3,428,856 shares, compared to its average volume of 3,800,548. The business has a fifty day moving average price of $45.78 and a two-hundred day moving average price of $43.68. Citizens Financial Group, Inc. has a 1-year low of $30.24 and a 1-year high of $49.25. The firm has a market cap of $20.34 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 0.84 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.93 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group's payout ratio is 55.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a "hold" rating in a report on Tuesday, January 21st. StockNews.com raised shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Compass Point upped their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Raymond James reaffirmed a "strong-buy" rating and issued a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Nine research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.00.

About Citizens Financial Group

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.