Belpointe Asset Management LLC Purchases New Shares in Citizens Financial Group, Inc. $CFG

Belpointe Asset Management LLC acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,058 shares of the bank’s stock, valued at approximately $482,000.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC increased its stake in shares of Citizens Financial Group by 2.4% in the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after purchasing an additional 274 shares in the last quarter. Empowered Funds LLC grew its holdings in Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after purchasing an additional 554 shares during the period. Woodline Partners LP increased its position in shares of Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after buying an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Citizens Financial Group by 93.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after buying an additional 4,739 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Citizens Financial Group by 1.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock valued at $1,582,000 after buying an additional 512 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Down 0.8%

Shares of NYSE CFG opened at $62.98 on Friday. The stock has a market cap of $27.05 billion, a PE ratio of 16.27, a P/E/G ratio of 0.52 and a beta of 0.72. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $65.88. The company has a 50-day moving average of $59.04 and a 200 day moving average of $53.63.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 2.9%. Citizens Financial Group’s payout ratio is 47.55%.

Wall Street Analyst Weigh In

CFG has been the subject of several recent analyst reports. TD Cowen boosted their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. DA Davidson boosted their target price on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Truist Financial upped their price target on shares of Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. UBS Group raised their price target on shares of Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Barclays set a $77.00 price objective on Citizens Financial Group and gave the stock an “overweight” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.55.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.