Citizens Financial Group, Inc. $CFG Stock: International Private Wealth Advisors LLC Raises Position

International Private Wealth Advisors LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 451.6% during the third quarter, Holdings Channel reports. The fund owned 26,909 shares of the bank’s stock after purchasing an additional 22,031 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Citizens Financial Group were worth $1,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Carolina Wealth Advisors LLC acquired a new position in Citizens Financial Group in the 3rd quarter valued at about $29,000. Elevation Wealth Partners LLC lifted its holdings in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $35,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $35,000. Finally, Align Financial LLC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of Citizens Financial Group from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 24th. TD Cowen began coverage on shares of Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective on the stock. Bank of America decreased their target price on shares of Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Truist Financial decreased their target price on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th. Finally, Argus lowered their target price on shares of Citizens Financial Group from $80.00 to $78.00 in a research note on Monday, October 19th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.79.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $65.41 on Thursday. The stock has a fifty day moving average price of $65.65 and a 200 day moving average price of $65.67. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The firm has a market capitalization of $27.42 billion, a P/E ratio of 13.16, a PEG ratio of 0.59 and a beta of 0.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $1.05 EPS. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio is currently 41.85%.

About Citizens Financial Group

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.