Citizens Financial Group, Inc. (NYSE:CFG) Shares Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,179 shares of the bank’s stock after acquiring an additional 989 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Citizens Financial Group were worth $270,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC grew its position in shares of Citizens Financial Group by 46.0% in the third quarter. Apollon Wealth Management LLC now owns 22,173 shares of the bank’s stock valued at $911,000 after purchasing an additional 6,989 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in Citizens Financial Group during the third quarter valued at about $232,000. CIBC Asset Management Inc grew its position in Citizens Financial Group by 6.9% during the third quarter. CIBC Asset Management Inc now owns 66,839 shares of the bank’s stock valued at $2,745,000 after acquiring an additional 4,330 shares during the period. Empirical Finance LLC grew its position in Citizens Financial Group by 2.1% during the third quarter. Empirical Finance LLC now owns 16,076 shares of the bank’s stock valued at $660,000 after acquiring an additional 330 shares during the period. Finally, Empowered Funds LLC grew its position in Citizens Financial Group by 8.4% during the third quarter. Empowered Funds LLC now owns 7,487 shares of the bank’s stock valued at $307,000 after acquiring an additional 579 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CFG. Piper Sandler upped their target price on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 21st. Barclays boosted their price target on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Finally, Morgan Stanley cut their price target on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday. Nine investment 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 stock. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $49.22.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $40.72 on Friday. Citizens Financial Group, Inc. has a one year low of $32.06 and a one year high of $49.25. The stock has a fifty day moving average of $45.46 and a 200-day moving average of $44.17. The company has a market capitalization of $17.80 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data 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 return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.13%. Citizens Financial Group’s payout ratio is currently 55.45%.

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.