Family Asset Management LLC Sells 612 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Family Asset Management LLC cut its position in Citizens Financial Group, Inc. (NYSE:CFG) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,473 shares of the bank’s stock after selling 612 shares during the quarter. Family Asset Management LLC’s holdings in Citizens Financial Group were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CFG. Norden Group LLC bought a new position in shares of Citizens Financial Group in the first quarter worth approximately $786,000. BNP Paribas Financial Markets raised its position in Citizens Financial Group by 2.8% during the first quarter. BNP Paribas Financial Markets now owns 510,183 shares of the bank’s stock valued at $18,515,000 after purchasing an additional 14,105 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Citizens Financial Group by 1.6% during the first quarter. Janney Montgomery Scott LLC now owns 127,285 shares of the bank’s stock worth $4,619,000 after purchasing an additional 2,003 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Citizens Financial Group by 9.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 46,309 shares of the bank’s stock worth $1,681,000 after purchasing an additional 3,852 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Citizens Financial Group by 686.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,758 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CFG. DA Davidson lifted their price target 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. The Goldman Sachs Group boosted their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Evercore ISI decreased their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler raised their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.80.

Citizens Financial Group Stock Up 9.1 %

CFG traded up $3.83 on Wednesday, hitting $46.05. The company had a trading volume of 2,411,991 shares, compared to its average volume of 5,295,161. The stock has a fifty day simple moving average of $41.50 and a 200-day simple moving average of $38.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $20.49 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.59 and a beta of 1.07. Citizens Financial Group, Inc. has a 52-week low of $24.61 and a 52-week high of $46.13.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 3.19 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.65%. Citizens Financial Group’s payout ratio is 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.