Crossmark Global Holdings Inc. Sells 1,031 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Crossmark Global Holdings Inc. lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 42,719 shares of the bank’s stock after selling 1,031 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Citizens Financial Group were worth $1,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares in the last quarter. Capital International Investors grew its holdings in Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after purchasing an additional 1,552,333 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Citizens Financial Group by 3,234.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after acquiring an additional 1,067,971 shares during the period. National Bank of Canada FI increased its holdings in Citizens Financial Group by 680.1% in the 2nd quarter. National Bank of Canada FI now owns 803,919 shares of the bank’s stock worth $28,804,000 after acquiring an additional 700,860 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after acquiring an additional 587,115 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $46.42 on Thursday. The firm has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $39.20. Citizens Financial Group, Inc. has a 52 week low of $25.93 and a 52 week high of $48.35. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.46 billion, a P/E ratio of 18.28, a PEG ratio of 1.77 and a beta of 1.07.

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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. On average, analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.62%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler upped their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. DA Davidson increased their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays lifted their price target on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group lifted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.80.

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.