Cadence Bank Has $3.06 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

Cadence Bank trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 47.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,533 shares of the bank's stock after selling 67,814 shares during the period. Cadence Bank's holdings in Citizens Financial Group were worth $3,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP bought a new stake in shares of Citizens Financial Group in the third quarter worth $1,910,000. CWM LLC lifted its position in shares of Citizens Financial Group by 77.1% during the second quarter. CWM LLC now owns 40,699 shares of the bank's stock worth $1,466,000 after purchasing an additional 17,718 shares during the last quarter. Quantbot Technologies LP bought a new stake in Citizens Financial Group in the second quarter valued at about $5,009,000. Andra AP fonden raised its stake in Citizens Financial Group by 49.1% during the second quarter. Andra AP fonden now owns 308,300 shares of the bank's stock valued at $11,108,000 after buying an additional 101,500 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in shares of Citizens Financial Group by 138.9% in the 3rd quarter. Pallas Capital Advisors LLC now owns 25,620 shares of the bank's stock worth $1,069,000 after acquiring an additional 14,896 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CFG shares. Citigroup boosted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. StockNews.com upgraded Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Evercore ISI reduced their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating for the company in a report on Wednesday, October 2nd. Finally, DA Davidson lifted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $45.47.

Citizens Financial Group Price Performance

Shares of CFG traded up $0.07 during trading hours on Wednesday, hitting $48.17. The stock had a trading volume of 2,120,105 shares, compared to its average volume of 5,235,481. Citizens Financial Group, Inc. has a 52 week low of $26.13 and a 52 week high of $49.25. The stock has a market capitalization of $21.23 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.84 and a beta of 1.07. The company's fifty day moving average is $43.29 and its two-hundred day moving average is $40.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group's payout ratio is 66.14%.

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.