Citizens Financial Group, Inc. (NYSE:CFG) Stock Position Raised by Algebris UK Ltd

Algebris UK Ltd lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 96.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 499,665 shares of the bank's stock after acquiring an additional 245,574 shares during the period. Citizens Financial Group makes up 5.3% of Algebris UK Ltd's investment portfolio, making the stock its 8th biggest position. Algebris UK Ltd owned about 0.11% of Citizens Financial Group worth $21,118,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Citizens Financial Group by 207.2% in the third 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 during the last quarter. State Street Corp lifted its stake in Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank's stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Citizens Financial Group in the fourth quarter worth $56,483,000. Bank of Montreal Can lifted its stake in 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 worth $107,897,000 after purchasing an additional 894,322 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Citizens Financial Group by 31.0% in 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 purchasing an additional 839,041 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

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Citizens Financial Group Stock Up 0.5 %

Shares of NYSE:CFG traded up $0.20 during trading on Friday, reaching $41.19. 17,066,477 shares of the stock traded hands, compared to its average volume of 4,521,143. The stock has a 50-day moving average of $45.12 and a two-hundred day moving average of $44.12. Citizens Financial Group, Inc. has a 52-week low of $32.06 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $18.00 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, January 31st. Citizens Financial Group's payout ratio is 55.45%.

Analyst Upgrades and Downgrades

CFG has been the subject of several recent research reports. Stephens reissued an "overweight" rating and issued a $53.00 price target on shares of Citizens Financial Group in a research note on Wednesday, January 29th. The Goldman Sachs Group boosted their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Truist Financial decreased their price objective on shares of Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating on the stock in a research report on Friday. Raymond James restated a "strong-buy" rating and issued a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price objective on shares of Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.06.

Citizens Financial Group 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.