Sound Income Strategies LLC Raises Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Sound Income Strategies LLC increased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 979,522.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,517 shares of the bank’s stock after purchasing an additional 215,495 shares during the quarter. Sound Income Strategies LLC’s holdings in Citizens Financial Group were worth $9,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in Citizens Financial Group by 104.9% in the second quarter. Intech Investment Management LLC now owns 11,359 shares of the bank’s stock valued at $409,000 after buying an additional 5,815 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Citizens Financial Group by 4.3% in the 2nd quarter. Pacer Advisors Inc. now owns 33,751 shares of the bank’s stock worth $1,216,000 after acquiring an additional 1,379 shares during the period. Sei Investments Co. increased its stake in Citizens Financial Group by 2.6% in the 2nd quarter. Sei Investments Co. now owns 219,866 shares of the bank’s stock valued at $7,922,000 after purchasing an additional 5,627 shares in the last quarter. ProShare Advisors LLC raised its holdings in Citizens Financial Group by 1.3% during the second quarter. ProShare Advisors LLC now owns 111,418 shares of the bank’s stock worth $4,014,000 after purchasing an additional 1,457 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Citizens Financial Group by 4.5% during the second quarter. Public Sector Pension Investment Board now owns 77,114 shares of the bank’s stock worth $2,778,000 after purchasing an additional 3,335 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CFG shares. Barclays raised their price target on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday. Truist Financial upped their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday. DA Davidson raised their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Trading Up 0.7 %

NYSE CFG opened at $47.36 on Friday. The company has a 50-day moving average of $45.71 and a 200-day moving average of $42.91. 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 12 month low of $30.24 and a 12 month high of $49.25. The company has a market cap of $20.87 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.82 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1,962,330 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. Citizens Financial Group’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.94 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s payout ratio is currently 55.45%.

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.