North Dakota State Investment Board Invests $872,000 in Citizens Financial Group, Inc. $CFG

North Dakota State Investment Board purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 14,921 shares of the bank’s stock, valued at approximately $872,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $50,000. Soltis Investment Advisors LLC bought a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $254,000. iA Global Asset Management Inc. raised its stake in shares of Citizens Financial Group by 35.7% in the 4th quarter. iA Global Asset Management Inc. now owns 43,316 shares of the bank’s stock valued at $2,530,000 after acquiring an additional 11,405 shares in the last quarter. Beese Fulmer Investment Management Inc. bought a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $322,000. Finally, Canada Post Corp Registered Pension Plan raised its stake in shares of Citizens Financial Group by 132.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 19,823 shares of the bank’s stock valued at $1,158,000 after acquiring an additional 11,287 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent analyst reports. New Street Research set a $73.00 price objective on Citizens Financial Group in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised their price objective on Citizens Financial Group from $68.00 to $68.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 21st. Evercore reissued an “outperform” rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Finally, Weiss Ratings raised Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $70.88.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $62.85 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $61.59 and its two-hundred day moving average is $59.93. The company has a market cap of $26.58 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.49 and a beta of 0.70. Citizens Financial Group, Inc. has a 12 month low of $38.80 and a 12 month high of $68.79.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. On average, equities analysts expect that Citizens Financial Group, Inc. will post 5.19 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company’s stock, valued at $9,632,956.84. The trade was a 7.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the transaction, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.