Arvest Bank Trust Division Takes Position in Citizens Financial Group, Inc. (NYSE:CFG)

Arvest Bank Trust Division purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,179 shares of the bank’s stock, valued at approximately $2,196,000.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Citizens Financial Group in the 4th quarter worth $243,431,000. Wellington Management Group LLP raised its holdings in shares of Citizens Financial Group by 27.8% in the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after purchasing an additional 2,298,040 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Citizens Financial Group during the fourth quarter valued at approximately $56,483,000. Bank of New York Mellon Corp grew its position in Citizens Financial Group by 31.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after buying an additional 839,041 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Citizens Financial Group by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after purchasing an additional 805,758 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 1.9 %

Shares of Citizens Financial Group stock opened at $35.43 on Thursday. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25. The company’s fifty day simple moving average is $41.36 and its 200-day simple moving average is $43.66. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.74%. Citizens Financial Group’s dividend payout ratio is presently 55.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Stephens reissued an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 21st. Raymond James reaffirmed a “strong-buy” rating and set a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Finally, Barclays lifted their target price on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.06.

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.