5 Undervalued Dividend Stocks to Buy in 2022

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

Dividend Yield as of April 1: 3.33%

P/E Ratio as of April 1: 9.08

Number of Hedge Fund Holders: 36

Headquartered in Providence, Rhode Island, Citizens Financial Group, Inc. (NYSE:CFG) operates as the bank holding company for Citizens Bank, specializing in retail and commercial banking products and services. 

On March 28, Morgan Stanley analyst Betsy Graseck maintained an Overweight rating on Citizens Financial Group, Inc. (NYSE:CFG), but reduced the price target to $62 from $69. The analyst stated that in the war backdrop, higher inflation increases credit risk and slows economic growth, all of which led the firm to downgrade its industry view to In-Line from Attractive and slash price targets across the Banking group.

Citizens Financial Group, Inc. (NYSE:CFG) declared a $0.3968 per share quarterly dividend, a 1.7% increase from its prior dividend of $0.39. The dividend will be paid on April 6, for shareholders of record on March 22. Citizens Financial Group, Inc. (NYSE:CFG)’s dividend yield on April 1 came in at 3.33%. 

According to the Q4 database of Insider Monkey, 36 hedge funds were long Citizens Financial Group, Inc. (NYSE:CFG), compared to 34 funds in the prior quarter. Marshall Wace LLP is the largest shareholder of the company, with 3.8 million shares worth $183.2 million.