Citizens Financial Group, Inc. (NYSE:CFG) Shares Purchased by Algebris UK Ltd

Algebris UK Ltd grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 96.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 499,665 shares of the bank’s stock after purchasing an additional 245,574 shares during the period. Citizens Financial Group comprises approximately 5.3% of Algebris UK Ltd’s investment portfolio, making the stock its 8th largest position. Algebris UK Ltd’s holdings in Citizens Financial Group were worth $21,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its stake in Citizens Financial Group by 91.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 14,405 shares of the bank’s stock worth $631,000 after acquiring an additional 6,885 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Citizens Financial Group by 801.9% in the 4th quarter. Intech Investment Management LLC now owns 102,445 shares of the bank’s stock valued at $4,483,000 after purchasing an additional 91,086 shares during the period. Mystic Asset Management Inc. purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth approximately $280,000. Corient Private Wealth LLC boosted its holdings in shares of Citizens Financial Group by 0.9% during the fourth quarter. Corient Private Wealth LLC now owns 85,535 shares of the bank’s stock worth $3,743,000 after purchasing an additional 802 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in Citizens Financial Group by 16.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,957 shares of the bank’s stock valued at $742,000 after purchasing an additional 2,415 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.2 %

CFG opened at $40.96 on Wednesday. The company has a market capitalization of $17.90 billion, a P/E ratio of 13.52, a P/E/G ratio of 0.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s fifty day moving average price is $45.31 and its two-hundred day moving average price is $44.15. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 4.10%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on CFG. Stephens reiterated an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Truist Financial lifted their price objective on Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Compass Point lifted their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley dropped their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.22.

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.