Legacy Capital Group California Inc. Sells 610 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Legacy Capital Group California Inc. lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 46,461 shares of the bank’s stock after selling 610 shares during the quarter. Citizens Financial Group comprises approximately 0.6% of Legacy Capital Group California Inc.’s holdings, making the stock its 23rd largest holding. Legacy Capital Group California Inc.’s holdings in Citizens Financial Group were worth $2,033,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CFG. Costello Asset Management INC purchased a new position in Citizens Financial Group during the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Citizens Financial Group during the 3rd quarter valued at $27,000. Catalyst Capital Advisors LLC purchased a new position in shares of Citizens Financial Group in the 3rd quarter valued at $28,000. Ameliora Wealth Management Ltd. bought a new position in shares of Citizens Financial Group in the 4th quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Citizens Financial Group during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $46.21 on Friday. Citizens Financial Group, Inc. has a twelve month low of $30.30 and a twelve month high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market cap of $20.20 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.82 and a beta of 1.10. The company’s 50 day moving average is $45.79 and its 200 day moving average is $43.87.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.64%. Citizens Financial Group’s payout ratio is currently 55.45%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James reissued a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. The Goldman Sachs Group increased their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Piper Sandler upped their price target on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Barclays raised their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.00.

About Citizens Financial Group

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.