Cresset Asset Management LLC Cuts Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Cresset Asset Management LLC decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 78.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,908 shares of the bank's stock after selling 47,466 shares during the period. Cresset Asset Management LLC's holdings in Citizens Financial Group were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Czech National Bank raised its holdings in shares of Citizens Financial Group by 4.6% during the fourth quarter. Czech National Bank now owns 95,553 shares of the bank's stock valued at $4,181,000 after acquiring an additional 4,230 shares during the last quarter. Brookstone Capital Management increased its position in shares of Citizens Financial Group by 28.2% during the fourth quarter. Brookstone Capital Management now owns 7,350 shares of the bank's stock worth $322,000 after purchasing an additional 1,619 shares in the last quarter. Wedmont Private Capital raised its stake in Citizens Financial Group by 17.2% in the 4th quarter. Wedmont Private Capital now owns 12,437 shares of the bank's stock valued at $539,000 after purchasing an additional 1,829 shares during the last quarter. Accurate Wealth Management LLC lifted its holdings in Citizens Financial Group by 5.4% in the 4th quarter. Accurate Wealth Management LLC now owns 5,455 shares of the bank's stock valued at $236,000 after purchasing an additional 278 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in Citizens Financial Group by 0.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank's stock worth $1,257,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Up 0.3%

NYSE CFG traded up $0.12 during trading hours on Friday, reaching $41.84. The company had a trading volume of 2,962,942 shares, compared to its average volume of 4,835,823. 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 stock has a market capitalization of $18.29 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74. The stock has a 50-day moving average of $38.49 and a 200 day moving average of $43.14. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Wednesday, April 30th. Citizens Financial Group's dividend payout ratio (DPR) is 53.33%.

Wall Street Analyst Weigh In

CFG has been the topic of several research reports. Truist Financial decreased their price target on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Raymond James reissued a "strong-buy" rating and issued a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a research note on Thursday, April 17th. Piper Sandler lowered their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. TD Cowen assumed coverage on Citizens Financial Group in a report on Thursday. They issued a "buy" rating and a $57.00 price target for the company. Finally, DA Davidson reduced their price objective on Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.78.

Citizens Financial Group 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.