Arvest Investments Inc. Sells 11,558 Shares of Citizens Financial Group, Inc. $CFG

Arvest Investments Inc. lessened its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 30.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,115 shares of the bank’s stock after selling 11,558 shares during the period. Arvest Investments Inc.’s holdings in Citizens Financial Group were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CFG. True Wealth Design LLC grew its position in shares of Citizens Financial Group by 891.5% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after acquiring an additional 526 shares during the period. Capital A Wealth Management LLC lifted its stake in Citizens Financial Group by 3,970.0% in the second quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock valued at $36,000 after purchasing an additional 794 shares during the last quarter. State of Wyoming purchased a new position in Citizens Financial Group in the second quarter valued at approximately $39,000. Kestra Investment Management LLC lifted its stake in Citizens Financial Group by 2,703.0% in the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock valued at $41,000 after purchasing an additional 892 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Citizens Financial Group by 632.0% in the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock valued at $41,000 after purchasing an additional 613 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $60.98 on Friday. The firm’s 50 day simple moving average is $61.56 and its 200 day simple moving average is $57.29. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $68.79. The firm has a market capitalization of $25.91 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.50 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that Citizens Financial Group, Inc. will post 3.92 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 18th. Stockholders of record on Wednesday, February 4th were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.0%. Citizens Financial Group’s dividend payout ratio is presently 47.55%.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of recent research reports. Barclays set a $77.00 target price on Citizens Financial Group and gave the stock an “overweight” rating in a research report on Monday, January 5th. Raymond James Financial downgraded Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $66.00 in a research note on Wednesday, January 7th. Weiss Ratings raised Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Evercore boosted their price objective on Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Citizens Financial Group from $62.50 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $69.27.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider directly owned 165,971 shares of the company’s stock, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.