Tower Research Capital LLC TRC Increases Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Tower Research Capital LLC TRC increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 83.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,753 shares of the bank's stock after acquiring an additional 15,378 shares during the quarter. Tower Research Capital LLC TRC's holdings in Citizens Financial Group were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors lifted its stake in Citizens Financial Group by 3.3% during the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock worth $1,570,989,000 after purchasing an additional 1,131,838 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Citizens Financial Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock worth $477,043,000 after purchasing an additional 124,860 shares in the last quarter. Wellington Management Group LLP increased its stake in Citizens Financial Group by 27.8% during the 4th 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 during the period. Norges Bank purchased a new position in Citizens Financial Group in the fourth quarter worth approximately $243,431,000. Finally, Nordea Investment Management AB boosted its position in shares of Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after acquiring an additional 805,758 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Barclays decreased their price objective 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. The Goldman Sachs Group reduced their price target on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.18.

Citizens Financial Group Price Performance

CFG traded up $0.08 during trading on Tuesday, reaching $37.42. The stock had a trading volume of 777,153 shares, compared to its average volume of 4,739,902. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $39.67 and a two-hundred day moving average of $43.42. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is currently 53.33%.

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.