Arvest Investments Inc. Sells 1,990 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Arvest Investments Inc. lowered its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,664 shares of the bank’s stock after selling 1,990 shares during the quarter. Arvest Investments Inc.’s holdings in Citizens Financial Group were worth $1,584,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. My Legacy Advisors LLC lifted its holdings in Citizens Financial Group by 6.0% during the first quarter. My Legacy Advisors LLC now owns 24,188 shares of the bank’s stock valued at $991,000 after purchasing an additional 1,378 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Citizens Financial Group by 12.5% during the first quarter. Handelsbanken Fonder AB now owns 96,233 shares of the bank’s stock valued at $3,943,000 after purchasing an additional 10,720 shares in the last quarter. Ibex Wealth Advisors lifted its holdings in Citizens Financial Group by 0.4% during the first quarter. Ibex Wealth Advisors now owns 161,423 shares of the bank’s stock valued at $6,614,000 after purchasing an additional 635 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in Citizens Financial Group by 12.2% during the first quarter. Accurate Wealth Management LLC now owns 6,122 shares of the bank’s stock valued at $251,000 after purchasing an additional 667 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in Citizens Financial Group during the first quarter valued at approximately $627,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the topic of several analyst reports. The Goldman Sachs Group lowered their price target on shares of Citizens Financial Group from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. TD Cowen assumed coverage on shares of Citizens Financial Group in a report on Thursday, May 15th. They issued a “buy” rating and a $57.00 target price on the stock. Truist Financial lowered their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Finally, Raymond James reissued a “strong-buy” rating and issued a $48.00 target price (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.89.

Citizens Financial Group Price Performance

CFG stock opened at $41.43 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $38.52 and a two-hundred day simple moving average of $42.54. The firm has a market capitalization of $18.11 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 0.81 and a beta of 0.75.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate 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. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

Citizens Financial Group Company 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.