Proficio Capital Partners LLC Invests $6.91 Million in Citizens Financial Group, Inc. (NYSE:CFG)

Proficio Capital Partners LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 157,826 shares of the bank’s stock, valued at approximately $6,906,000.

Several other institutional investors have also modified their holdings of the stock. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Citizens Financial Group by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 182,779 shares of the bank’s stock worth $7,998,000 after acquiring an additional 3,900 shares during the period. Equity Investment Corp purchased a new position in shares of Citizens Financial Group during the 4th quarter worth $204,000. Allegiance Financial Group Advisory Services LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth $297,000. Bank of New York Mellon Corp increased its position in shares of Citizens Financial Group by 31.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after purchasing an additional 839,041 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Citizens Financial Group by 38.3% during the 4th quarter. IFP Advisors Inc now owns 7,975 shares of the bank’s stock worth $349,000 after purchasing an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG opened at $45.04 on Tuesday. The stock has a 50-day simple moving average of $45.93 and a 200-day simple moving average of $44.22. 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 stock has a market capitalization of $19.69 billion, a PE ratio of 14.86, a PEG ratio of 0.81 and a beta of 1.10. Citizens Financial Group, Inc. has a 1 year low of $31.70 and a 1 year high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data 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. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s payout ratio is presently 55.45%.

Analyst Ratings Changes

A number of analysts recently issued reports on CFG shares. Barclays raised their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Compass Point raised their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup raised their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Raymond James reissued a “strong-buy” rating and set a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Nine equities research 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 stock. Based on data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

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.