waypoint wealth counsel Makes New Investment in Citizens Financial Group, Inc. $CFG

waypoint wealth counsel purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,146 shares of the bank’s stock, valued at approximately $230,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake in Citizens Financial Group by 177.5% in the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock worth $29,000 after buying an additional 410 shares during the last quarter. Investors Research Corp raised its holdings in shares of Citizens Financial Group by 344.8% in the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after purchasing an additional 500 shares during the period. Grove Bank & Trust raised its holdings in shares of Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock worth $28,000 after purchasing an additional 334 shares during the period. REAP Financial Group LLC raised its holdings in shares of Citizens Financial Group by 72.4% in the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after purchasing an additional 309 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in shares of Citizens Financial Group by 143.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after purchasing an additional 634 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $49.25 on Monday. The company has a market cap of $21.24 billion, a P/E ratio of 14.97, a PEG ratio of 0.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $55.24. The business’s 50-day simple moving average is $51.06 and its 200 day simple moving average is $44.86.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is 51.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore ISI raised their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. JPMorgan Chase & Co. upgraded Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $48.50 to $52.00 in a report on Friday, August 1st. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $53.00 to $71.00 in a report on Monday, September 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Citizens Financial Group in a report on Wednesday, October 8th. Finally, Raymond James Financial set a $62.00 price objective on Citizens Financial Group and gave the stock a “strong-buy” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.86.

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.