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

Key Points

• MV Capital Management opened a new position in Citizens Financial Group in the fourth quarter, buying 61,041 shares valued at about $3.6 million.
• Citizens Financial Group reported better-than-expected quarterly results, with EPS of $1.13 topping estimates and revenue rising 12% year over year to $2.17 billion.
• The bank also paid a quarterly dividend of $0.46 per share and continues to have strong Wall Street support, with analysts assigning a consensus Moderate Buy rating and a $70.88 price target.

MV Capital Management Inc. bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) 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 - Get Free Report) 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.

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