Alden Global Capital LLC Invests $6.42 Million in Citizens Financial Group, Inc. $CFG

Alden Global Capital LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 143,544 shares of the bank’s stock, valued at approximately $6,424,000. Citizens Financial Group accounts for approximately 4.0% of Alden Global Capital LLC’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Investors Research Corp grew its stake in shares of Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock valued at $29,000 after buying an additional 500 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Citizens Financial Group by 177.5% in the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after acquiring an additional 410 shares during the last quarter. GoalVest Advisory LLC boosted its holdings in Citizens Financial Group by 16,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after acquiring an additional 676 shares during the period. REAP Financial Group LLC grew its position in Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after acquiring an additional 309 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Citizens Financial Group during the 2nd quarter worth approximately $45,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

CFG stock opened at $58.34 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $59.31. The firm has a 50-day moving average of $52.50 and a 200 day moving average of $49.36. The company has a market cap of $25.06 billion, a P/E ratio of 16.34, a PEG ratio of 0.62 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the firm posted $0.79 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.2%. Citizens Financial Group’s payout ratio is currently 51.54%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Raymond James Financial set a $62.00 price objective on Citizens Financial Group and gave the company a “strong-buy” rating in a research report on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of Citizens Financial Group in a research note on Monday, December 1st. Truist Financial lowered their price target on shares of Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating for the company in a report on Friday, October 17th. Cantor Fitzgerald began coverage on shares of Citizens Financial Group in a report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price target on the stock. Finally, Morgan Stanley upgraded shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $53.00 to $71.00 in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

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.