Basswood Capital Management L.L.C. Reduces Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Basswood Capital Management L.L.C. reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 660,774 shares of the bank’s stock after selling 159,926 shares during the quarter. Citizens Financial Group comprises about 1.7% of Basswood Capital Management L.L.C.’s holdings, making the stock its 15th biggest holding. Basswood Capital Management L.L.C. owned 0.15% of Citizens Financial Group worth $28,915,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameliora Wealth Management Ltd. purchased a new position in Citizens Financial Group in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $28,000. Sierra Ocean LLC purchased a new position in Citizens Financial Group during the 4th quarter valued at $47,000. Duncker Streett & Co. Inc. purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at about $51,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $66,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 3.6 %

Shares of CFG stock opened at $38.63 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $39.08 and its two-hundred day simple moving average is $43.27. The company has a market cap of $16.89 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. Research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 53.33%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CFG. Barclays reduced their target price on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada decreased their target price on Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price 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. Truist Financial lowered their price objective on shares of Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.18.

Citizens Financial Group Company 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.