Assetmark Inc. Cuts Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Assetmark Inc. lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 71.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,177 shares of the bank's stock after selling 22,763 shares during the quarter. Assetmark Inc.'s holdings in Citizens Financial Group were worth $377,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new position in Citizens Financial Group during the 3rd quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in Citizens Financial Group during the 2nd quarter valued at about $25,000. Versant Capital Management Inc increased its stake in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock valued at $34,000 after purchasing an additional 678 shares in the last quarter. Private Ocean LLC raised its holdings in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank's stock worth $36,000 after buying an additional 838 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Citizens Financial Group in the third quarter worth approximately $50,000. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CFG. Barclays boosted their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, August 5th. Royal Bank of Canada lifted their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Evercore ISI lowered their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $43.80.

Citizens Financial Group Trading Up 0.4 %

Shares of NYSE CFG traded up $0.20 during midday trading on Friday, reaching $46.78. 3,793,968 shares of the stock were exchanged, compared to its average volume of 4,555,918. The stock has a market capitalization of $20.62 billion, a P/E ratio of 18.42, a PEG ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50 day simple moving average of $42.19 and a 200 day simple moving average of $39.42. Citizens Financial Group, Inc. has a twelve month low of $26.13 and a twelve month high of $48.35.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. Citizens Financial Group's revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group's dividend payout ratio (DPR) is currently 66.14%.

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.