Brighton Jones LLC grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 539.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 226,687 shares of the bank’s stock after acquiring an additional 191,231 shares during the period. Brighton Jones LLC’s holdings in Citizens Financial Group were worth $14,454,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Citizens Financial Group in the 2nd quarter worth about $3,415,046,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after purchasing an additional 12,014,785 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after purchasing an additional 8,523,938 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Citizens Financial Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares during the period. Finally, Amundi increased its position in Citizens Financial Group by 31.2% during the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after purchasing an additional 875,666 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.
Citizens Financial Group Price Performance
Shares of NYSE CFG opened at $63.34 on Friday. Citizens Financial Group, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33. The business has a 50-day moving average of $65.87 and a 200-day moving average of $65.64. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 0.58 and a beta of 0.74.
Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter last year, the firm earned $1.05 earnings per share. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.
Citizens Financial Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is currently 41.85%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CFG. Bank of America cut their price target on shares of Citizens Financial Group from $82.00 to $76.00 in a report on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Citigroup decreased their price objective on shares of Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Argus dropped their price objective on shares of Citizens Financial Group from $80.00 to $78.00 in a research report on Monday, October 19th. Finally, Robert W. Baird raised their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.79.
Citizens Financial Group Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions.
Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.
Citizens traces its history to High Street Bank, founded in Providence in 1828.
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