Algebris UK Ltd Purchases 245,574 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Algebris UK Ltd lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 96.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 499,665 shares of the bank’s stock after acquiring an additional 245,574 shares during the quarter. Citizens Financial Group accounts for about 5.3% of Algebris UK Ltd’s investment portfolio, making the stock its 8th biggest position. Algebris UK Ltd owned approximately 0.11% of Citizens Financial Group worth $21,118,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Ameliora Wealth Management Ltd. acquired a new position in Citizens Financial Group during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Citizens Financial Group in the fourth quarter valued at about $28,000. Sierra Ocean LLC acquired a new stake in Citizens Financial Group during the fourth quarter valued at approximately $47,000. Legacy Investment Solutions LLC bought a new position in Citizens Financial Group during the 3rd quarter worth approximately $48,000. Finally, Duncker Streett & Co. Inc. acquired a new position in shares of Citizens Financial Group in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $40.96 on Wednesday. Citizens Financial Group, Inc. has a 52 week low of $32.06 and a 52 week high of $49.25. 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 cap of $17.90 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. The company’s 50-day moving average price is $45.31 and its two-hundred day moving average price is $44.15.

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

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Analyst Ratings Changes

Several brokerages recently issued reports on CFG. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target 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. Barclays increased their price objective on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Compass Point lifted their target price on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Raymond James reiterated a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price 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.