5 Bank Dividend Stocks for 2022

4. Citizens Financial Group, Inc. (NYSE:CFG)  

Number of Hedge Fund Holders: 34

Dividend Yield: 3.17% (as of January 4)

Citizens Financial Group, Inc. (NYSE:CFG) is a commercial bank headquartered in Rhode Island. In October, the company reported quarterly dividend at $0.39 per share. As of the third quarter, 34 out of 867 elite hedge funds tracked by Insider Monkey reported ownership of stakes in Citizens Financial Group, Inc. (NYSE:CFG), with a combined value of $361.8 million. In contrast, 36 hedge funds held stakes worth $402.3 million in the company a quarter ago.

For the third quarter, Citizens Financial Group, Inc. (NYSE:CFG) reported an EPS of $1.22, which was above consensus estimates by $0.07. The company’s shares have soared 33.27% in the last 12 months.

On November 24, Morgan Stanley analyst Ken Zerbe resumed coverage of Citizens Financial Group, Inc. (NYSE:CFG) with an ‘Overweight’ rating and a $61 price target, citing the bank’s proven expense discipline, faster-growth loan categories, above-peer asset sensitivity, and potential for additional fee-based acquisitions as catalysts for share growth.