Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 71.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,177 shares of the bank’s stock after selling 22,763 shares during the period. Assetmark Inc.’s holdings in Citizens Financial Group were worth $377,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in Citizens Financial Group in the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth approximately $28,000. Versant Capital Management Inc raised its stake in Citizens Financial Group by 262.8% in 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 during the last quarter. Private Ocean LLC lifted its holdings in Citizens Financial Group by 484.4% in the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Citizens Financial Group in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. DA Davidson raised their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note 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 research report on Monday, August 5th. Evercore ISI reduced their price objective on 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, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Hold” and an average target price of $43.80.

Citizens Financial Group Trading Up 0.4 %

Shares of CFG stock opened at $46.78 on Friday. The company has a 50-day moving average of $42.19 and a two-hundred day moving average of $39.38. The firm has a market cap of $20.62 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. Citizens Financial Group, Inc. has a 1-year low of $26.13 and a 1-year high of $48.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. On average, analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The company 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. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

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.