Truist Financial Corp Has $6.27 Million Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Truist Financial Corp reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 189,111 shares of the bank’s stock after selling 32,867 shares during the period. Truist Financial Corp’s holdings in Citizens Financial Group were worth $6,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFG. Lindbrook Capital LLC increased its position in shares of Citizens Financial Group by 100.8% during the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares in the last quarter. Larson Financial Group LLC bought a new stake in Citizens Financial Group during the fourth quarter worth about $33,000. CVA Family Office LLC acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $40,000. Blue Trust Inc. raised its stake in shares of Citizens Financial Group by 77.6% in the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Citizens Financial Group in the 3rd quarter worth approximately $40,000. Institutional investors own 94.90% of the company’s stock.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 6,327 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares of the company’s stock, valued at approximately $1,265,704.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Stock Up 1.1 %

NYSE:CFG opened at $35.39 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $36.38. The stock’s fifty day simple moving average is $34.04 and its 200-day simple moving average is $31.24. The firm has a market capitalization of $16.22 billion, a P/E ratio of 12.82 and a beta of 1.36.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. Citizens Financial Group’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of recent analyst reports. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Sunday. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Royal Bank of Canada raised their price objective on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Piper Sandler upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $41.00 in a research report on Friday, April 26th. Finally, Citigroup increased their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.73.

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.