Connecticut Wealth Management LLC Takes $241,000 Position in Citizens Financial Group, Inc. (NYSE:CFG)

Connecticut Wealth Management LLC purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,260 shares of the bank’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of Citizens Financial Group by 40.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock valued at $54,000 after acquiring an additional 472 shares during the period. Lindbrook Capital LLC boosted its position in Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares during the period. Highlander Capital Management LLC boosted its position in Citizens Financial Group by 19.6% during the fourth quarter. Highlander Capital Management LLC now owns 3,056 shares of the bank’s stock worth $101,000 after purchasing an additional 500 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Citizens Financial Group by 4.5% in the third quarter. Coldstream Capital Management Inc. now owns 12,246 shares of the bank’s stock worth $328,000 after buying an additional 523 shares in the last quarter. Finally, Sterling Investment Counsel LLC lifted its holdings in shares of Citizens Financial Group by 6.1% in the fourth quarter. Sterling Investment Counsel LLC now owns 9,278 shares of the bank’s stock worth $307,000 after buying an additional 535 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the transaction, the insider now owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Price Performance

CFG traded up $0.36 during trading on Monday, hitting $35.75. The company’s stock had a trading volume of 895,404 shares, compared to its average volume of 5,655,146. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $36.38. The business’s fifty day simple moving average is $34.04 and its 200 day simple moving average is $31.31. The firm has a market capitalization of $16.39 billion, a price-to-earnings ratio of 12.82 and a beta of 1.36.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.23 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Evercore ISI lifted their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Wedbush cut their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Finally, Citigroup lifted their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 19th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.73.

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.