Integrated Wealth Concepts LLC Acquires Shares of 4,975 Citizens Financial Group, Inc. (NYSE:CFG)

Integrated Wealth Concepts LLC acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,975 shares of the bank’s stock, valued at approximately $204,000.

A number of other institutional investors have also made changes to their positions in the company. Investment Management Corp of Ontario increased its stake in Citizens Financial Group by 49.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 15,103 shares of the bank’s stock worth $620,000 after buying an additional 5,000 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Citizens Financial Group during the third quarter worth about $7,601,000. Centiva Capital LP lifted its stake in shares of Citizens Financial Group by 6.8% in the third quarter. Centiva Capital LP now owns 31,448 shares of the bank’s stock worth $1,292,000 after acquiring an additional 1,993 shares in the last quarter. Basswood Capital Management L.L.C. boosted its holdings in Citizens Financial Group by 0.4% in the third quarter. Basswood Capital Management L.L.C. now owns 820,700 shares of the bank’s stock valued at $33,706,000 after purchasing an additional 3,534 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Citizens Financial Group in the third quarter valued at about $971,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped 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. Citigroup upped 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. Piper Sandler increased their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.94.

Citizens Financial Group Trading Up 0.3 %

NYSE:CFG opened at $45.69 on Friday. Citizens Financial Group, Inc. has a 12-month low of $30.24 and a 12-month high of $49.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The business has a 50 day simple moving average of $44.71 and a 200 day simple moving average of $40.92. The firm has a market capitalization of $20.14 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.76 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities research analysts predict that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.68%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Citizens Financial Group 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.