waypoint wealth counsel Acquires Shares of 5,146 Citizens Financial Group, Inc. $CFG

Key Points

• Waypoint Wealth Counsel has acquired 5,146 shares of Citizens Financial Group, Inc. (CFG), valued at approximately $230,000, signaling significant institutional interest in the bank's stock.
• Citizens Financial Group recently reported quarterly earnings of $0.92 per share, exceeding analysts' expectations and showing a 3.8% year-over-year revenue increase.
• The bank declared a quarterly dividend of $0.42 per share, representing an annualized yield of 3.4%, and has a dividend payout ratio of 51.06%.

waypoint wealth counsel acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,146 shares of the bank's stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. Lynx Investment Advisory raised its position in Citizens Financial Group by 2.8% in the second quarter. Lynx Investment Advisory now owns 8,961 shares of the bank's stock worth $401,000 after acquiring an additional 243 shares in the last quarter. NewEdge Advisors LLC raised its position in Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock worth $472,000 after acquiring an additional 274 shares in the last quarter. Old Port Advisors raised its position in Citizens Financial Group by 0.9% in the first quarter. Old Port Advisors now owns 32,767 shares of the bank's stock worth $1,342,000 after acquiring an additional 296 shares in the last quarter. REAP Financial Group LLC raised its position in Citizens Financial Group by 72.4% in the second quarter. REAP Financial Group LLC now owns 736 shares of the bank's stock worth $33,000 after acquiring an additional 309 shares in the last quarter. Finally, Grove Bank & Trust raised its position in Citizens Financial Group by 97.1% in the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after acquiring an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Down 5.0%

CFG opened at $49.25 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The firm 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. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $55.24. The business's fifty day simple moving average is $51.06 and its 200 day simple moving average is $44.86.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

CFG has been the subject of several research analyst reports. Evercore ISI increased their price objective on Citizens Financial Group from $57.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Bank of America raised Citizens Financial Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $52.00 to $65.00 in a report on Thursday. UBS Group upped their target price on Citizens Financial Group from $57.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Truist Financial upped their target price on Citizens Financial Group from $52.00 to $58.00 and gave the company a "hold" rating in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Citizens Financial Group in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and a consensus target price of $55.86.

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.

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