Cadence Bank Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Cadence Bank trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 93.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,194 shares of the bank's stock after selling 69,339 shares during the quarter. Cadence Bank's holdings in Citizens Financial Group were worth $227,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Arvest Bank Trust Division bought a new position in Citizens Financial Group during the fourth quarter valued at $2,196,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Citizens Financial Group by 85.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 575,406 shares of the bank's stock worth $25,175,000 after purchasing an additional 264,675 shares during the period. Canada Pension Plan Investment Board grew its holdings in Citizens Financial Group by 128.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 674,200 shares of the bank's stock valued at $29,503,000 after purchasing an additional 379,200 shares during the last quarter. NewEdge Advisors LLC raised its position in Citizens Financial Group by 3.3% in the 4th quarter. NewEdge Advisors LLC now owns 11,257 shares of the bank's stock worth $493,000 after purchasing an additional 363 shares during the period. Finally, United Capital Financial Advisors LLC lifted its stake in Citizens Financial Group by 2.7% in the fourth quarter. United Capital Financial Advisors LLC now owns 19,541 shares of the bank's stock worth $855,000 after purchasing an additional 515 shares during the last quarter. Institutional investors own 94.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays cut their target price on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada lowered their price objective on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Argus set a $45.00 price target on Citizens Financial Group in a report on Thursday. Morgan Stanley reduced their price objective on Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Finally, DA Davidson lowered their target price on Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Eight investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.18.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $0.94 during mid-day trading on Thursday, reaching $37.43. The stock had a trading volume of 4,388,614 shares, compared to its average volume of 4,791,340. 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, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.81 and a beta of 0.81. The business's fifty day moving average is $40.25 and its 200-day moving average is $43.49.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. On average, research analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.49%. 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.