1620 Investment Advisors Inc. Invests $242,000 in Citizens Financial Group, Inc. (NYSE:CFG)

1620 Investment Advisors Inc. purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,311 shares of the bank’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC purchased a new position in shares of Citizens Financial Group in the fourth quarter worth about $33,000. Authentikos Wealth Advisory LLC purchased a new position in Citizens Financial Group during the third quarter worth about $40,000. CVA Family Office LLC acquired a new position in Citizens Financial Group in the 4th quarter valued at about $40,000. Blue Trust Inc. boosted its holdings in Citizens Financial Group by 77.6% in the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after purchasing an additional 574 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Citizens Financial Group by 40.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock valued at $54,000 after buying an additional 472 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CFG. Citigroup upped their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 19th. Evercore ISI upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Piper Sandler upgraded Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $41.00 in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their price objective on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Jefferies Financial Group upped their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.73.

Insider Activity at Citizens Financial Group

In related news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the transaction, the insider now owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by corporate insiders.

Citizens Financial Group Stock Down 1.8 %

Shares of NYSE CFG traded down $0.66 during mid-day trading on Wednesday, hitting $35.91. The company had a trading volume of 3,243,500 shares, compared to its average volume of 5,446,473. The company has a market capitalization of $16.34 billion, a PE ratio of 13.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $37.30. The business’s 50-day simple moving average is $34.93 and its 200 day simple moving average is $32.36.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. On average, analysts predict that Citizens Financial Group, Inc. will post 3.16 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.68%. The ex-dividend date was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

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.