Belpointe Asset Management LLC Buys New Stake in Citizens Financial Group, Inc. $CFG

Belpointe Asset Management LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,058 shares of the bank’s stock, valued at approximately $482,000.

A number of other large investors have also made changes to their positions in CFG. NewEdge Advisors LLC grew its stake in Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC raised its stake in Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after buying an additional 554 shares during the last quarter. Woodline Partners LP boosted its holdings in Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after acquiring an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after acquiring an additional 4,739 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Citizens Financial Group by 1.5% during the second quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock worth $1,582,000 after acquiring an additional 512 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.8%

NYSE CFG opened at $62.98 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $65.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $27.05 billion, a PE ratio of 16.27, a P/E/G ratio of 0.52 and a beta of 0.72. The company has a fifty day moving average of $59.04 and a 200 day moving average of $53.63.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 7.89% and a net margin of 15.19%.The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. Research analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 2.9%. Citizens Financial Group’s payout ratio is presently 47.55%.

Analyst Upgrades and Downgrades

CFG has been the subject of several research analyst reports. Raymond James Financial lowered shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $62.00 to $66.00 in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Citizens Financial Group in a report on Monday, December 29th. Evercore ISI reiterated an “outperform” rating and set a $69.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, January 6th. Barclays set a $77.00 price objective on shares of Citizens Financial Group and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, New Street Research set a $73.00 target price on Citizens Financial Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average target price of $67.55.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.