Belpointe Asset Management LLC Purchases 973 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Belpointe Asset Management LLC increased its position in Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,369 shares of the bank’s stock after purchasing an additional 973 shares during the period. Belpointe Asset Management LLC’s holdings in Citizens Financial Group were worth $211,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Connable Office Inc. grew its stake in Citizens Financial Group by 3.4% in the fourth quarter. Connable Office Inc. now owns 7,174 shares of the bank’s stock valued at $282,000 after purchasing an additional 237 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Citizens Financial Group by 3.1% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,727 shares of the bank’s stock worth $344,000 after acquiring an additional 265 shares during the last quarter. Valmark Advisers Inc. grew its stake in shares of Citizens Financial Group by 1.1% during the third quarter. Valmark Advisers Inc. now owns 24,518 shares of the bank’s stock worth $842,000 after acquiring an additional 272 shares during the last quarter. Kinneret Advisory LLC grew its stake in shares of Citizens Financial Group by 2.3% during the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock worth $603,000 after acquiring an additional 298 shares during the last quarter. Finally, Utah Retirement Systems grew its stake in shares of Citizens Financial Group by 0.3% during the third quarter. Utah Retirement Systems now owns 87,352 shares of the bank’s stock worth $3,001,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

Insider Buying and Selling

In other news, Director Shivan S. Subramaniam acquired 3,300 shares of Citizens Financial Group stock in a transaction that occurred on Friday, April 21st. The stock was purchased at an average cost of $28.79 per share, with a total value of $95,007.00. Following the completion of the acquisition, the director now owns 66,263 shares in the company, valued at approximately $1,907,711.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CFG shares. Barclays dropped their target price on Citizens Financial Group from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 20th. JPMorgan Chase & Co. decreased their price target on Citizens Financial Group from $45.50 to $37.00 and set an “overweight” rating for the company in a report on Monday, April 10th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday. Bank of America downgraded Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $33.00 in a research note on Thursday, April 20th. Finally, Piper Sandler upped their target price on Citizens Financial Group from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.18.

Citizens Financial Group Stock Down 2.8 %

CFG opened at $25.05 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.93. The business has a 50 day simple moving average of $29.53 and a 200-day simple moving average of $37.01. The stock has a market capitalization of $12.12 billion, a P/E ratio of 6.04, a P/E/G ratio of 0.20 and a beta of 1.32. Citizens Financial Group, Inc. has a 12 month low of $23.37 and a 12 month high of $44.82.

Citizens Financial Group (NYSE:CFG – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $1.00 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.11). The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Citizens Financial Group had a net margin of 21.12% and a return on equity of 11.12%. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 earnings per share. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 4.53 earnings per share for the current fiscal year.

Citizens Financial Group declared that its Board of Directors has initiated a stock repurchase program on Friday, February 17th that permits the company to buyback $1.15 billion in shares. This buyback authorization permits the bank to purchase up to 5.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 17th. Investors of record on Wednesday, May 3rd will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, May 2nd. This represents a $1.68 annualized dividend and a yield of 6.71%. Citizens Financial Group’s dividend payout ratio is presently 40.48%.

Citizens Financial Group Company Profile

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Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.