Citizens Financial Group, Inc. $CFG Stock: Barrett & Company Inc. Grows Holdings

Barrett & Company Inc. increased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 5,653.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,543 shares of the bank’s stock after buying an additional 12,325 shares during the period. Barrett & Company Inc.’s holdings in Citizens Financial Group were worth $800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its holdings in shares of Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after purchasing an additional 323 shares during the period. Cedar Mountain Advisors LLC purchased a new position in Citizens Financial Group in the first quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. acquired a new position in Citizens Financial Group during the second quarter valued at approximately $35,000. Virtus Advisers LLC purchased a new stake in Citizens Financial Group during the second quarter worth approximately $35,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Citizens Financial Group during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CFG. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Evercore reiterated an “outperform” rating and issued a $78.00 price target on shares of Citizens Financial Group in a report on Thursday, October 1st. Morgan Stanley lowered their price target on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Barclays raised their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Stephens dropped their target price on Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.47.

Citizens Financial Group Stock Down 0.1%

Shares of Citizens Financial Group stock opened at $65.19 on Friday. Citizens Financial Group, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33. The company has a market capitalization of $27.46 billion, a PE ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72. 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 business has a 50-day moving average of $67.11 and a 200-day moving average of $67.20.

Citizens Financial Group (NYSE:CFG) last released 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 return on equity of 9.52% and a net margin of 18.07%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. 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 yield of 3.2%. Citizens Financial Group’s payout ratio is 41.85%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.