Lincoln Capital Corp Purchases Shares of 6,340 Citizens Financial Group, Inc. (NYSE:CFG)

Lincoln Capital Corp purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, HoldingsChannel reports. The firm purchased 6,340 shares of the bank’s stock, valued at approximately $210,000.

Several other institutional investors also recently modified their holdings of CFG. Altfest L J & Co. Inc. increased its stake in shares of Citizens Financial Group by 25.9% in the fourth quarter. Altfest L J & Co. Inc. now owns 15,805 shares of the bank’s stock valued at $524,000 after buying an additional 3,248 shares during the period. Planned Solutions Inc. bought a new position in Citizens Financial Group during the 4th quarter worth approximately $111,000. IFG Advisory LLC lifted its position in shares of Citizens Financial Group by 7.0% in the 4th quarter. IFG Advisory LLC now owns 10,662 shares of the bank’s stock worth $353,000 after purchasing an additional 699 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Citizens Financial Group by 1,398.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,069,855 shares of the bank’s stock valued at $35,455,000 after purchasing an additional 998,466 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Citizens Financial Group by 10.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,095 shares of the bank’s stock worth $434,000 after buying an additional 1,223 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $1.02 on Wednesday, hitting $35.84. 4,122,277 shares of the stock were exchanged, compared to its average volume of 5,991,484. The firm’s 50 day moving average is $32.67 and its two-hundred day moving average is $29.76. Citizens Financial Group, Inc. has a one year low of $22.77 and a one year high of $36.18. The firm has a market capitalization of $16.43 billion, a PE ratio of 11.52 and a beta of 1.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.26). The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.21 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Tuesday, January 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 54.02%.

Insider Activity at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the sale, the insider now directly owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CFG has been the topic of several recent analyst reports. TheStreet raised Citizens Financial Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Barclays cut shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Wedbush cut their price target on Citizens Financial Group from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. Finally, StockNews.com lowered Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.00.

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.