Ibex Wealth Advisors Makes New Investment in Citizens Financial Group, Inc. (NYSE:CFG)

Ibex Wealth Advisors purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 160,788 shares of the bank's stock, valued at approximately $7,036,000.

Other hedge funds also recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Citizens Financial Group in the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citizens Financial Group in the third quarter worth approximately $48,000. Finally, Friedenthal Financial acquired a new stake in shares of Citizens Financial Group in the third quarter worth approximately $50,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on CFG shares. Piper Sandler raised their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Citigroup raised their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, November 21st. DA Davidson raised their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Evercore ISI cut their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating on the stock in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $49.00.

Citizens Financial Group Stock Performance

Citizens Financial Group stock traded up $0.75 during mid-day trading on Thursday, reaching $48.37. The company's stock had a trading volume of 3,827,643 shares, compared to its average volume of 3,853,516. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.82 and a beta of 1.10. The business has a 50 day moving average price of $45.82 and a 200-day moving average price of $43.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a twelve month low of $30.24 and a twelve month high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.94 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group's dividend payout ratio (DPR) is 55.45%.

Citizens Financial Group Company 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.