Ipswich Investment Management Co. Inc. Takes $202,000 Position in Citizens Financial Group, Inc. (NYSE:CFG)

Ipswich Investment Management Co. Inc. acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,624 shares of the bank’s stock, valued at approximately $202,000.

Other hedge funds have also modified their holdings of the company. Costello Asset Management INC acquired a new position in shares of Citizens Financial Group in the third quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Citizens Financial Group in the third quarter worth about $27,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group in the third quarter worth about $28,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $28,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

NYSE:CFG opened at $44.87 on Friday. Citizens Financial Group, Inc. has a one year low of $30.30 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 stock has a market cap of $19.61 billion, a PE ratio of 14.81, a P/E/G ratio of 0.83 and a beta of 1.10. The stock has a 50 day moving average price of $45.80 and a 200 day moving average price of $43.89.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 3.74%. Citizens Financial Group’s dividend payout ratio (DPR) is 55.45%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James reiterated a “strong-buy” rating and set a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. The Goldman Sachs Group increased their price target on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price target 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. Compass Point increased their price target 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. Finally, Truist Financial increased their price target on Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.00.

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.