Graypoint LLC Grows Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Graypoint LLC increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,646 shares of the bank’s stock after purchasing an additional 404 shares during the quarter. Graypoint LLC’s holdings in Citizens Financial Group were worth $378,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CFG. Wellington Management Group LLP grew its holdings in shares of Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after buying an additional 5,579,313 shares in the last quarter. AQR Capital Management LLC grew its stake in 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 valued at $155,909,000 after acquiring an additional 1,682,886 shares in the last quarter. State Street Corp raised its holdings in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after acquiring an additional 1,615,144 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Citizens Financial Group by 85.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after purchasing an additional 942,662 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock valued at $107,897,000 after purchasing an additional 894,322 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Down 3.3 %

Shares of NYSE:CFG opened at $43.30 on Friday. The firm has a market capitalization of $19.08 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. Citizens Financial Group, Inc. has a 1 year low of $30.24 and a 1 year high of $49.25. 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’s 50-day moving average is $45.49 and its two-hundred day moving average is $42.29.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) 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 quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. Analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.88%. Citizens Financial Group’s payout ratio is 66.14%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CFG shares. Raymond James upgraded Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, December 18th. Evercore ISI lowered their price target on shares of 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. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler raised their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $47.78.

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.