State of Tennessee Department of Treasury Decreases Position in Citizens Financial Group, Inc. (NYSE:CFG)

State of Tennessee Department of Treasury reduced its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,238 shares of the bank’s stock after selling 7,805 shares during the period. State of Tennessee Department of Treasury’s holdings in Citizens Financial Group were worth $7,493,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. TD Waterhouse Canada Inc. increased its position in shares of Citizens Financial Group by 2,285.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 28,651 shares of the bank’s stock worth $1,254,000 after purchasing an additional 27,450 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Citizens Financial Group by 83.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 33,753 shares of the bank’s stock worth $1,477,000 after purchasing an additional 15,378 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Citizens Financial Group by 5.8% during the fourth quarter. MML Investors Services LLC now owns 56,989 shares of the bank’s stock worth $2,494,000 after buying an additional 3,143 shares in the last quarter. Mesirow Institutional Investment Management Inc. raised its position in shares of Citizens Financial Group by 55.9% in the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 90,123 shares of the bank’s stock valued at $3,944,000 after buying an additional 32,327 shares during the last quarter. Finally, Norinchukin Bank The lifted its stake in shares of Citizens Financial Group by 9.0% in the fourth quarter. Norinchukin Bank The now owns 20,424 shares of the bank’s stock worth $894,000 after buying an additional 1,691 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods dropped their price target on Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Piper Sandler reduced their price objective on Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. DA Davidson dropped 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. Finally, Morgan Stanley cut their target price on Citizens Financial Group from $54.00 to $43.00 and set an “equal weight” rating for the company in a research note 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. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.18.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $37.43 on Friday. The stock has a market capitalization of $16.36 billion, a P/E ratio of 12.35, a PEG ratio of 0.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25. The company has a 50 day moving average price of $40.07 and a 200 day moving average price of $43.46.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS 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 paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Wednesday, April 30th. Citizens Financial Group’s payout ratio is currently 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.