Amalgamated Bank Sells 5,408 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Amalgamated Bank lessened its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 114,614 shares of the bank’s stock after selling 5,408 shares during the quarter. Amalgamated Bank’s holdings in Citizens Financial Group were worth $3,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CFG. Raymond James & Associates grew its position in Citizens Financial Group by 3.5% during the third quarter. Raymond James & Associates now owns 315,504 shares of the bank’s stock worth $8,456,000 after buying an additional 10,579 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Citizens Financial Group by 122.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,571 shares of the bank’s stock worth $1,141,000 after purchasing an additional 23,405 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Citizens Financial Group by 1.8% in the third quarter. IFM Investors Pty Ltd now owns 105,947 shares of the bank’s stock worth $2,839,000 after purchasing an additional 1,847 shares during the last quarter. Advisor Partners II LLC raised its stake in Citizens Financial Group by 75.2% in the third quarter. Advisor Partners II LLC now owns 54,520 shares of the bank’s stock valued at $1,461,000 after purchasing an additional 23,401 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Citizens Financial Group by 9.6% during the third quarter. Park Avenue Securities LLC now owns 47,296 shares of the bank’s stock valued at $1,268,000 after purchasing an additional 4,159 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CFG has been the topic of a number of research analyst reports. Piper Sandler raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Jefferies Financial Group lifted their price target on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Morgan Stanley increased their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 5th. Finally, Evercore ISI increased their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $37.73.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $36.02 on Friday. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $36.38. The firm has a market capitalization of $16.39 billion, a P/E ratio of 13.05 and a beta of 1.12. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $34.43 and a two-hundred day simple moving average of $31.53.

Citizens Financial Group (NYSE:CFG) last issued its quarterly 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 business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company’s revenue was down 7.9% on a year-over-year basis. During the same period last year, the business earned $1.00 earnings per share. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 3.23 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.66%. Citizens Financial Group’s payout ratio is currently 60.87%.

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.