Citizens Financial Group, Inc. (NYSE:CFG) Position Increased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 19.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,179 shares of the bank’s stock after buying an additional 989 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Citizens Financial Group were worth $270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CFG. Wellington Management Group LLP raised 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 acquiring an additional 5,579,313 shares in the last quarter. State Street Corp increased its position in Citizens Financial Group by 6.7% during the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Citizens Financial Group during the fourth quarter worth $56,483,000. Bank of Montreal Can increased its position in Citizens Financial Group by 51.1% during the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after buying an additional 894,322 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Citizens Financial Group by 31.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after buying an additional 839,041 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 2.5 %

Shares of CFG opened at $40.72 on Friday. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.81 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 12 month low of $32.06 and a 12 month high of $49.25. The company has a 50-day moving average price of $45.46 and a two-hundred day moving average price of $44.17.

Citizens Financial Group (NYSE:CFG) last announced its quarterly 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 firm had revenue of $1.99 billion during 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 company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Equities analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared 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. This represents a $1.68 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio is 55.45%.

Analysts Set New Price Targets

Several research firms have commented on CFG. Citigroup increased their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Compass Point increased their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their target price on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Stephens reaffirmed an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Finally, Morgan Stanley lowered their price target on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday. Nine investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.22.

Citizens Financial Group Company Profile

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.