Sound Income Strategies LLC Has $9.43 Million Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Sound Income Strategies LLC grew its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 979,522.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,517 shares of the bank's stock after acquiring an additional 215,495 shares during the period. Sound Income Strategies LLC's holdings in Citizens Financial Group were worth $9,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Costello Asset Management INC bought a new position in Citizens Financial Group in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at $27,000. Catalyst Capital Advisors LLC bought a new stake in shares of Citizens Financial Group during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Citizens Financial Group during the third quarter valued at $48,000. Finally, Friedenthal Financial bought a new position in Citizens Financial Group in the third quarter valued at about $50,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 0.2 %

Shares of Citizens Financial Group stock traded up $0.10 during trading hours on Friday, reaching $47.44. 2,300,721 shares of the company's stock were exchanged, compared to its average volume of 3,913,683. 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 company has a 50 day moving average of $45.73 and a two-hundred day moving average of $42.94. The stock has a market cap of $20.91 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.82 and a beta of 1.10. Citizens Financial Group, Inc. has a fifty-two week low of $30.24 and a fifty-two week high of $49.25.

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, topping 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 company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1,962,330 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business's revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.94 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, January 31st. Citizens Financial Group's dividend payout ratio (DPR) is presently 55.45%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CFG shares. Compass Point boosted their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Barclays raised their price target on 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. Keefe, Bruyette & Woods upped their price target on Citizens Financial Group from $53.00 to $56.00 and gave the company a "market perform" rating in a research note on Tuesday. Raymond James reaffirmed a "strong-buy" rating and issued a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday. Finally, Stephens reiterated an "overweight" rating and set a $53.00 target price on shares of Citizens Financial Group in a report on Tuesday. 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. According to data from MarketBeat.com, Citizens Financial Group has an average rating of "Moderate Buy" and an average target price of $49.00.

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.