Citizens Financial Group, Inc. $CFG Stock: Brighton Jones LLC Raises Position

Brighton Jones LLC increased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 539.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,687 shares of the bank’s stock after buying an additional 191,231 shares during the period. Brighton Jones LLC owned about 0.05% of Citizens Financial Group worth $14,454,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Citizens Financial Group during the second quarter worth approximately $3,415,046,000. Robeco Institutional Asset Management B.V. grew its stake in Citizens Financial Group by 7,979.7% in 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 acquiring an additional 12,014,785 shares during the period. Assenagon Asset Management S.A. grew its stake in Citizens Financial Group by 1,252.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after acquiring an additional 8,523,938 shares during the period. Dimensional Fund Advisors LP grew its stake in Citizens Financial Group by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after acquiring an additional 28,602 shares during the period. Finally, Amundi raised its holdings in Citizens Financial Group by 31.2% in the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock valued at $258,265,000 after acquiring an additional 875,666 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CFG. Citigroup reduced their price target on Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Jefferies Financial Group lowered their price objective on Citizens Financial Group from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Royal Bank Of Canada lowered their price objective on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Raymond James Financial dropped their target price on Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Finally, Morgan Stanley reduced their target price on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.79.

Citizens Financial Group Price Performance

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 company’s 50 day simple moving average is $65.87 and its 200 day simple moving average is $65.64. The stock has a market capitalization of $26.55 billion, a PE ratio of 12.74, a P/E/G ratio of 0.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current 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. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. Citizens Financial Group’s dividend payout ratio (DPR) is 41.85%.

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.