MV Capital Management Inc. Buys New Position in Citizens Financial Group, Inc. $CFG

MV Capital Management Inc. bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 61,041 shares of the bank’s stock, valued at approximately $3,565,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wick Capital Partners LLC purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at $1,529,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Citizens Financial Group during the 4th quarter worth $240,000. Compound Planning Inc. grew its position in Citizens Financial Group by 14.8% in the fourth quarter. Compound Planning Inc. now owns 6,150 shares of the bank’s stock worth $359,000 after acquiring an additional 793 shares in the last quarter. Corient Private Wealth LLC increased its stake in Citizens Financial Group by 95.5% in the fourth quarter. Corient Private Wealth LLC now owns 179,607 shares of the bank’s stock valued at $10,491,000 after acquiring an additional 87,726 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Citizens Financial Group by 85.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 156,521 shares of the bank’s stock valued at $9,142,000 after acquiring an additional 72,184 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.5%

CFG opened at $67.11 on Friday. The company has a market cap of $28.38 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.53 and a beta of 0.68. The business’s 50-day moving average price is $64.00 and its 200-day moving average price is $61.75. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a 12 month low of $41.37 and a 12 month high of $68.79.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.77 EPS. Citizens Financial Group’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio is 43.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Robert W. Baird upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Monday, March 9th. Royal Bank Of Canada raised their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Truist Financial boosted their target price on Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Eighteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Profile

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.