Ritholtz Wealth Management Acquires 2,790 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Ritholtz Wealth Management raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,909 shares of the bank’s stock after acquiring an additional 2,790 shares during the period. Ritholtz Wealth Management’s holdings in Citizens Financial Group were worth $609,000 at the end of the most recent quarter.

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

Citizens Financial Group Trading Up 1.5 %

NYSE:CFG opened at $47.52 on Tuesday. Citizens Financial Group, Inc. has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.29 and a beta of 1.10. The firm has a fifty day simple moving average of $45.64 and a two-hundred day simple moving average of $42.71.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1,962,330 billion. During the same period last year, the business posted $0.85 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts expect that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s payout ratio is 66.14%.

Analysts Set New Price Targets

CFG has been the subject of several recent research reports. Raymond James raised Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, December 18th. Royal Bank of Canada upped their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Compass Point lifted their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial began coverage on Citizens Financial Group in a research report on Tuesday, January 7th. They set a “hold” rating and a $49.00 target price for the company. Finally, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.