Belpointe Asset Management LLC Acquires New Position in Citizens Financial Group, Inc. (NYSE:CFG)

Belpointe Asset Management LLC bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,536 shares of the bank’s stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. Ameliora Wealth Management Ltd. acquired a new position in Citizens Financial Group in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Citizens Financial Group in the fourth quarter valued at approximately $28,000. Sierra Ocean LLC bought a new stake in Citizens Financial Group in the fourth quarter worth approximately $47,000. Duncker Streett & Co. Inc. acquired a new position in shares of Citizens Financial Group during the 4th quarter worth $51,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Citizens Financial Group during the 4th quarter valued at $66,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $35.43 on Friday. The firm has a market capitalization of $15.49 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.25. The firm has a 50-day moving average price of $41.12 and a 200 day moving average price of $43.62.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 53.33%.

Analyst Upgrades and Downgrades

CFG has been the topic of several recent research reports. Raymond James restated a “strong-buy” rating and set a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a report on Thursday. Barclays decreased their target price on Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday. The Goldman Sachs Group dropped their price target on shares of Citizens Financial Group from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada decreased their price objective on shares of Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Nine investment 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.22.

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.