Tidal Investments LLC Grows Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Tidal Investments LLC boosted its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 292.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,851 shares of the bank's stock after acquiring an additional 52,039 shares during the period. Tidal Investments LLC's holdings in Citizens Financial Group were worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CFG. Wellington Management Group LLP lifted its position in shares of 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 valued at $339,733,000 after acquiring an additional 5,579,313 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank's stock valued at $155,909,000 after purchasing an additional 1,682,886 shares in the last quarter. State Street Corp boosted its stake in shares of Citizens Financial Group by 6.7% during the 3rd 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. Assenagon Asset Management S.A. grew its holdings in shares of Citizens Financial Group by 85.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank's stock worth $83,933,000 after buying an additional 942,662 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of 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 valued at $107,897,000 after buying an additional 894,322 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on CFG shares. Piper Sandler lifted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Evercore ISI lowered their price objective on Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating for the company in a research report on Wednesday, October 2nd. Barclays increased their target price on Citizens Financial Group from $40.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Compass Point lifted their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada increased their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.94.

Citizens Financial Group Stock Down 0.0 %

Shares of CFG traded down $0.01 during midday trading on Monday, reaching $45.69. 2,946,478 shares of the company were exchanged, compared to its average volume of 5,174,747. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a 1-year low of $30.24 and a 1-year high of $49.25. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.76 and a beta of 1.08. The stock has a 50-day moving average price of $44.71 and a 200-day moving average price of $41.02.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.85 earnings per share. Citizens Financial Group's revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.68%. Citizens Financial Group's payout ratio is currently 66.14%.

About Citizens Financial Group

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.