IFG Advisory LLC Has $427,000 Stock Holdings in Citizens Financial Group, Inc. $CFG

IFG Advisory LLC raised its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 19.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,550 shares of the bank’s stock after buying an additional 1,529 shares during the quarter. IFG Advisory LLC’s holdings in Citizens Financial Group were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CFG. OneDigital Investment Advisors LLC increased its stake in shares of Citizens Financial Group by 37.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank’s stock worth $292,000 after purchasing an additional 1,957 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Citizens Financial Group by 12.0% during the 1st quarter. IFM Investors Pty Ltd now owns 107,788 shares of the bank’s stock worth $4,427,000 after purchasing an additional 11,521 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Citizens Financial Group during the 1st quarter worth $46,000. World Investment Advisors acquired a new position in shares of Citizens Financial Group during the 1st quarter worth $410,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Citizens Financial Group by 4.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,321 shares of the bank’s stock worth $25,456,000 after purchasing an additional 26,738 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

NYSE CFG opened at $50.89 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $51.84 and a 200 day simple moving average of $46.39. The company has a market cap of $21.95 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.54 and a beta of 0.79. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $55.24.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm earned $0.79 EPS. Citizens Financial Group’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be issued a $0.46 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $1.84 dividend on an annualized basis and a yield of 3.6%. Citizens Financial Group’s payout ratio is currently 51.54%.

Analyst Upgrades and Downgrades

CFG has been the topic of several analyst reports. UBS Group increased their price target on shares of Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. DA Davidson restated a “buy” rating and set a $59.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 16th. Barclays increased their price target on shares of Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 16th. Stephens reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 16th. Finally, JPMorgan Chase & Co. raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $48.50 to $52.00 in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.57.

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.