Cinctive Capital Management LP Buys New Position in Citizens Financial Group, Inc. (NYSE:CFG)

Cinctive Capital Management LP purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,281 shares of the bank's stock, valued at approximately $362,000.

Several other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of 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 acquiring an additional 5,579,313 shares during the period. Norges Bank bought a new position in Citizens Financial Group during the fourth quarter worth about $243,431,000. State Street Corp increased its stake in shares of 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $56,483,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Citizens Financial Group by 31.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank's stock valued at $155,051,000 after buying an additional 839,041 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Up 9.0 %

Shares of CFG stock traded up $3.10 on Wednesday, hitting $37.50. 10,043,319 shares of the company's stock traded hands, compared to its average volume of 4,742,412. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.81 and a beta of 0.81. The company's fifty day simple moving average is $42.58 and its 200 day simple moving average is $43.86. Citizens Financial Group, Inc. has a one year low of $32.06 and a one year 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.

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Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the firm earned $0.85 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 4.48%. Citizens Financial Group's payout ratio is currently 55.45%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CFG. Morgan Stanley dropped their target price 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, March 13th. Citigroup decreased their price target on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Compass Point raised their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Truist Financial decreased their target price on shares of Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Finally, Barclays raised their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.