VCI Wealth Management LLC Takes $216,000 Position in Citizens Financial Group, Inc. (NYSE:CFG)

VCI Wealth Management LLC acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,510 shares of the bank’s stock, valued at approximately $216,000.

A number of other hedge funds have also modified their holdings of CFG. Lindbrook Capital LLC grew its position in shares of 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 acquiring an additional 496 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth about $33,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth about $40,000. CVA Family Office LLC acquired a new stake in Citizens Financial Group during the 4th quarter worth approximately $40,000. Finally, Global Retirement Partners LLC increased its position in Citizens Financial Group by 336.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,693 shares of the bank’s stock worth $43,000 after purchasing an additional 1,305 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total transaction of $151,198.32. Following the transaction, the insider now directly owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. UBS Group lifted their target price on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Barclays lowered Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, January 2nd. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, Argus boosted their target price on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.13.

Citizens Financial Group Price Performance

NYSE CFG traded up $0.13 during trading hours on Friday, reaching $35.14. 3,168,271 shares of the stock traded hands, compared to its average volume of 5,799,489. The stock has a 50 day simple moving average of $33.61 and a two-hundred day simple moving average of $30.89. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $36.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 12.68 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 7.9% compared to the same quarter last year. On average, analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

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.