SVB Wealth LLC Buys 2,662 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

SVB Wealth LLC boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 14.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,548 shares of the bank’s stock after purchasing an additional 2,662 shares during the quarter. SVB Wealth LLC’s holdings in Citizens Financial Group were worth $714,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. bought a new stake in Citizens Financial Group during the fourth quarter valued at about $1,087,000. Capital Advisors Inc. OK acquired a new stake in Citizens Financial Group in the fourth quarter worth about $3,321,000. Crumly & Associates Inc. acquired a new stake in Citizens Financial Group in the fourth quarter worth about $203,000. Louisiana State Employees Retirement System acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth about $935,000. Finally, Lauer Wealth LLC lifted its holdings in shares of Citizens Financial Group by 37.6% during the fourth quarter. Lauer Wealth LLC now owns 12,733 shares of the bank’s stock worth $422,000 after purchasing an additional 3,479 shares during the period. Institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CFG. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. TheStreet raised Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Barclays downgraded Citizens Financial Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Jefferies Financial Group lifted their price target on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada lifted their price target on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.29.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $33.99 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88. The business’s 50 day moving average price is $33.33 and its 200-day moving average price is $30.63. The firm has a market capitalization of $15.58 billion, a PE ratio of 12.32 and a beta of 1.38. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $36.38.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business’s revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 3.25 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the transaction, the insider now owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

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.