Cadence Bank Has $3.06 Million Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Cadence Bank trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 47.6% during the third quarter, Holdings Channel.com reports. The firm owned 74,533 shares of the bank’s stock after selling 67,814 shares during the period. Cadence Bank’s holdings in Citizens Financial Group were worth $3,061,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Citizens Financial Group by 3.9% during the first quarter. California State Teachers Retirement System now owns 894,552 shares of the bank’s stock valued at $32,463,000 after buying an additional 33,455 shares during the last quarter. Comerica Bank increased its holdings in Citizens Financial Group by 57.9% during the 1st quarter. Comerica Bank now owns 296,454 shares of the bank’s stock worth $10,758,000 after purchasing an additional 108,712 shares in the last quarter. Montchanin Asset Management LLC purchased a new stake in shares of Citizens Financial Group in the first quarter worth approximately $341,000. Algebris UK Ltd bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $5,459,000. Finally, LRI Investments LLC purchased a new position in shares of Citizens Financial Group during the first quarter valued at approximately $119,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Price Performance

CFG opened at $48.09 on Wednesday. The firm has a 50-day moving average price of $43.14 and a 200-day moving average price of $40.02. Citizens Financial Group, Inc. has a twelve month low of $26.13 and a twelve month high of $49.25. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.84 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.85 EPS. Citizens Financial Group’s revenue was down 5.6% compared to the same quarter last year. Equities analysts expect that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CFG shares. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays boosted their target price on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price target on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada raised their target price on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.47.

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.