Ibex Wealth Advisors Invests $7.04 Million in Citizens Financial Group, Inc. (NYSE:CFG)

Ibex Wealth Advisors acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 160,788 shares of the bank’s stock, valued at approximately $7,036,000.

Other large investors have also bought and sold shares of the company. Costello Asset Management INC bought a new stake in shares of Citizens Financial Group during the third quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in Citizens Financial Group during the 3rd quarter worth about $27,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Citizens Financial Group in the third quarter valued at about $48,000. Finally, Friedenthal Financial acquired a new position in shares of Citizens Financial Group during the third quarter worth about $50,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG traded up $0.72 during mid-day trading on Wednesday, reaching $48.07. 250,575 shares of the company’s stock were exchanged, compared to its average volume of 3,671,270. Citizens Financial Group, Inc. has a one year low of $30.24 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day simple moving average is $45.79 and its two-hundred day simple moving average is $43.25. The firm has a market capitalization of $21.18 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that Citizens Financial Group, Inc. will post 3.94 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Piper Sandler boosted their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price target on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

About Citizens Financial Group

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.