Arvest Investments Inc. Invests $1.78 Million in Citizens Financial Group, Inc. (NYSE:CFG)

Arvest Investments Inc. acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,654 shares of the bank’s stock, valued at approximately $1,779,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFG. State Street Corp grew its position in Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares during the last quarter. Wellington Management Group LLP grew its position in Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. Nordea Investment Management AB grew its position in Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after purchasing an additional 805,758 shares during the last quarter. Bank of New York Mellon Corp grew its position in Citizens Financial Group by 31.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after purchasing an additional 839,041 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Citizens Financial Group by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock worth $129,150,000 after purchasing an additional 334,386 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

CFG opened at $41.34 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a fifty day moving average price of $45.24 and a 200 day moving average price of $44.13. Citizens Financial Group, Inc. has a 1 year low of $32.06 and a 1 year high of $49.25. The stock has a market cap of $18.07 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 yield of 4.06%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s dividend payout ratio is presently 55.45%.

Analyst Ratings Changes

Several analysts have weighed in on CFG shares. Morgan Stanley dropped their target price on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Citigroup boosted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group upped their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial upped their price objective on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Finally, Compass Point upped their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.22.

About Citizens Financial Group

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.