HB Wealth Management LLC, a prominent wealth management firm, recently made a strategic move by acquiring a new position in shares of Citizens Financial Group, Inc. This purchase was disclosed in their latest filing with the Securities and Exchange Commission, showcasing their commitment to enhancing their investment portfolio.
The fund acquired 7,098 shares of Citizens Financial Group’s stock, valued at approximately $216,000. This decision highlights the company’s recognition of the potential growth and profitability that Citizens Financial Group offers. By adding this stock to their portfolio, HB Wealth Management LLC aims to capitalize on the future success of this well-established institution.
Furthermore, investors have also been pleased with Citizens Financial Group’s recent announcement of quarterly dividends. On May 17th, the company paid out a dividend of $0.42 per share to shareholders of record as of May 3rd. With an annualized dividend of $1.68 and a remarkable dividend yield of 6.55%, Citizens Financial Group is demonstrating its dedication to rewarding its shareholders.
In addition to HB Wealth Management LLC’s significant purchase, there were notable insider transactions within Citizens Financial Group as well. Director Terrance Lillis acquired 1,000 shares on May 17th at an average price of $26.39 per share, amounting to a total transaction value of $26,390. Following this acquisition, Lillis now owns 3,000 shares valued at approximately $79,170.
This insider activity reflects directors’ confidence in the company’s future prospects and shows their commitment towards supporting its growth trajectory. It is worth noting that Lillis’s purchase was duly filed and disclosed with the Securities & Exchange Commission.
Moreover, another director named Shivan S. Subramaniam purchased 3,300 shares on April 21st at an average price of $28.79 per share for a total transaction value of $95,007. Following this acquisition, Subramaniam now directly holds 66,263 shares valued at approximately $1,907,711.77.
These insider transactions signify the strong belief that key stakeholders have in Citizens Financial Group’s potential success. The fact that company insiders are investing their own funds underscores their confidence in the organization’s ability to deliver favorable returns in the long run.
Overall, these recent developments within Citizens Financial Group showcase a thriving and forward-thinking institution that continues to attract significant interest from both institutional investors like HB Wealth Management LLC and insiders such as Terrance Lillis and Shivan S. Subramaniam. As the bank remains committed to rewarding its shareholders through dividends and generating consistent growth, it is likely to remain an attractive investment opportunity for discerning investors moving forward.
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Citizens Financial Group (CFG) Faces Analyst Sentiment and Stake Holding Changes as Quarterly Dividend Payment is Declared
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CFG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Citizens Financial Group (CFG) has recently seen an increase in the holdings of various institutional investors and hedge funds, as well as some reduction in stakes. Heritage Wealth Management LLC, for example, boosted its holdings in the bank’s stock by 100.0% in the 4th quarter, now owning 646 shares valued at $25,000. Other companies such as Resurgent Financial Advisors LLC, Geneos Wealth Management Inc., Grey Fox Wealth Advisors LLC, and Lindbrook Capital LLC have also acquired new positions or increased their holdings.
These investments come amidst reports from research analysts regarding the performance of Citizens Financial Group. TheStreet recently downgraded the stock from a “b-” rating to a “c+” rating, indicating a decrease in confidence. Credit Suisse Group reduced its price target on CFG shares from $44.00 to $35.00 and assigned a “neutral” rating for the company. StockNews.com upgraded Citizens Financial Group from a “sell” to a “hold” rating.
Citigroup also reduced its price target on CFG shares from $34.00 to $31.00 and stated they hold a neutral rating for the company’s stocks. Bank of America downgraded CFG shares from a “buy” rating to a “neutral” rating with a reduced price target of $33.00. Overall, analysts have provided varying ratings with six holding a neutral stance and ten recommending a buy on CFG stocks.
The business recently announced its quarterly dividend payment on May 17th, where stockholders were issued $0.42 per share if they were on record by May 3rd (the ex-dividend date). This represents an annualized dividend of $1.68 and yields approximately 6.55%. The payout ratio for Citizens Financial Group currently stands at 40.48%.
CFG stock opened at $25.66 on Thursday with a market capitalization of around $12.42 billion. The price-to-earnings (P/E) ratio for Citizens Financial Group is 6.18, and the beta factor is 1.33, indicating a relatively higher degree of volatility compared to the market. The stock has ranged from a low of $23.37 to a high of $44.82 in the past year. The company maintains a debt-to-equity ratio of 0.85, current ratio of 0.94, and quick ratio of 0.93.
Citizens Financial Group released its quarterly earnings data on April 19th, reporting earnings per share (EPS) of $1.00 for the quarter, missing the consensus estimate by ($0.11). However, the company’s revenue of $2.13 billion exceeded analyst expectations of $2.14 billion for the same period, marking a strong performance.
Citizens Financial Group had a return on equity (ROE) of 11.12% and net margin of 21.12%. Compared to the previous year, the company saw an impressive increase in revenue by 29.4%. Despite falling short on EPS estimates for this quarter, equities analysts predict that CFG will post EPS of 4.34 for this year.
In conclusion, Citizens Financial Group has seen mixed sentiments from research analysts recently and has experienced changes in stake holdings by institutional investors and hedge funds like Heritage Wealth Management LLC and others. The company has also declared its quarterly dividend payment to stockholders while its stock performance shows some fluctuations throughout the year with notable financial figures reported during their latest earning call.
