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

Ipswich Investment Management Co. Inc. purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,624 shares of the bank’s stock, valued at approximately $202,000.

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

Citizens Financial Group Stock Down 2.8 %

CFG opened at $44.87 on Friday. The business’s 50-day simple moving average is $45.80 and its 200-day simple moving average is $43.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $30.30 and a one year high of $49.25. The stock has a market capitalization of $19.61 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CFG shares. The Goldman Sachs Group lifted their target price on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 21st. Barclays lifted their target price on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Piper Sandler lifted their target price on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

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.