MN Wealth Advisors LLC Makes New $491,000 Investment in Citizens Financial Group, Inc. $CFG

MN Wealth Advisors LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, HoldingsChannel.com reports. The fund purchased 7,702 shares of the bank’s stock, valued at approximately $491,000.

A number of other hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new position in shares of Citizens Financial Group during the first quarter valued at about $27,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth about $29,000. Elevation Wealth Partners LLC boosted its holdings in shares of Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after purchasing an additional 323 shares during the period. Virtus Advisers LLC purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $35,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Citizens Financial Group in the second quarter worth about $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.1%

Shares of NYSE CFG opened at $65.19 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33. The firm has a market capitalization of $27.46 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72. The firm has a fifty day simple moving average of $67.11 and a two-hundred day simple moving average of $67.20.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period last year, the company posted $1.05 EPS. Equities analysts expect that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. Citizens Financial Group’s payout ratio is currently 37.02%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CFG shares. DA Davidson set a $82.00 price target on Citizens Financial Group in a report on Monday, October 19th. Evercore reiterated an “outperform” rating and issued a $78.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 1st. JPMorgan Chase & Co. dropped their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a report on Friday, October 2nd. Raymond James Financial reiterated a “strong-buy” rating on shares of Citizens Financial Group in a research report on Friday, October 16th. Finally, TD Cowen began coverage on Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.47.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.