Truist Financial Corp Sells 10,602 Shares of Citizens Financial Group, Inc. $CFG

Truist Financial Corp cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,111 shares of the bank’s stock after selling 10,602 shares during the quarter. Truist Financial Corp’s holdings in Citizens Financial Group were worth $7,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management grew its position in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares during the period. Fortitude Family Office LLC grew its position in shares of Citizens Financial Group by 632.0% in the 4th quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock worth $41,000 after buying an additional 613 shares during the period. State of Wyoming purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $39,000. Quest 10 Wealth Builders Inc. grew its position in shares of Citizens Financial Group by 261.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 893 shares of the bank’s stock worth $52,000 after buying an additional 646 shares during the period. Finally, Kestra Investment Management LLC grew its position in shares of Citizens Financial Group by 2,703.0% in the 2nd quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock worth $41,000 after buying an additional 892 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $63.70 on Friday. Citizens Financial Group, Inc. has a one year low of $38.80 and a one year high of $68.79. The company’s 50-day moving average is $61.35 and its 200 day moving average is $59.25. The company has a market capitalization of $26.94 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating 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 company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted $0.77 EPS. Citizens Financial Group’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts expect that Citizens Financial Group, Inc. will post 5.19 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 43.50%.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent research reports. Robert W. Baird raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Monday, March 9th. JPMorgan Chase & Co. upped their target price on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. New Street Research set a $73.00 target price on shares of Citizens Financial Group in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Finally, Morgan Stanley cut their price objective on shares of Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $70.88.

Insider Activity

In other news, insider Susan Lamonica sold 13,258 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the sale, the insider owned 165,971 shares of the company’s stock, valued at $9,632,956.84. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Company 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.