Barclays PLC Cuts Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Posted by Defense World Staff on Aug 6th, 2023

Barclays PLC decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 705,640 shares of the bank’s stock after selling 208,675 shares during the period. Barclays PLC owned 0.15% of Citizens Financial Group worth $21,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. Heritage Wealth Management LLC grew its holdings in Citizens Financial Group by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. Asset Dedication LLC boosted its stake in Citizens Financial Group by 155.2% during the first quarter. Asset Dedication LLC now owns 809 shares of the bank’s stock worth $25,000 after buying an additional 492 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Citizens Financial Group during the fourth quarter worth $28,000. Geneos Wealth Management Inc. boosted its stake in Citizens Financial Group by 483.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 875 shares of the bank’s stock worth $34,000 after buying an additional 725 shares during the period. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Citizens Financial Group during the fourth quarter worth $34,000. Institutional investors own 88.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CFG. DA Davidson dropped their price objective on shares of Citizens Financial Group from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, April 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Citizens Financial Group in a research note on Friday, July 21st. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Citigroup lifted their target price on Citizens Financial Group from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Barclays decreased their target price on Citizens Financial Group from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 20th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average target price of $37.71.

Insider Transactions at Citizens Financial Group

In other news, Director Terrance Lillis bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $26.39 per share, for a total transaction of $26,390.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $79,170. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company’s stock.

Citizens Financial Group Price Performance

CFG opened at $31.25 on Friday. The business’s 50-day moving average is $28.30 and its two-hundred day moving average is $32.10. Citizens Financial Group, Inc. has a 1 year low of $23.37 and a 1 year high of $44.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market capitalization of $15.12 billion, a PE ratio of 7.10 and a beta of 1.33.

Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its earnings results on Wednesday, July 19th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.08). Citizens Financial Group had a net margin of 20.41% and a return on equity of 10.68%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the firm earned $1.14 EPS. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.86 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.38%. Citizens Financial Group’s payout ratio is 38.18%.

Citizens Financial Group Company Profile

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.