Cary Street Partners Financial LLC Makes New Investment in Citizens Financial Group, Inc. (NYSE:CFG)

Cary Street Partners Financial LLC bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 118,574 shares of the bank's stock, valued at approximately $5,189,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Citizens Financial Group in the 4th quarter worth about $243,431,000. Wellington Management Group LLP lifted its stake in shares of Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock worth $462,547,000 after buying an additional 2,298,040 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Citizens Financial Group by 20.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after buying an additional 1,672,204 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Citizens Financial Group by 32.2% during the fourth quarter. AQR Capital Management LLC now owns 6,186,364 shares of the bank's stock valued at $270,715,000 after acquiring an additional 1,507,536 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Citizens Financial Group in the 4th quarter worth approximately $56,483,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $38.66 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25. The firm has a fifty day moving average price of $38.96 and a 200-day moving average price of $43.25. The stock has a market cap of $16.90 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Equities 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group's dividend payout ratio (DPR) is currently 53.33%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CFG shares. Barclays reduced their target price on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada decreased their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Morgan Stanley dropped their price target on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Stephens lowered their price objective on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Finally, Argus set a $45.00 target price on shares of Citizens Financial Group in a report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of "Moderate Buy" and an average price target of $46.18.

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.

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