Citizens Financial Group, Inc. $CFG Stock Purchased by Barrett & Company Inc.

Barrett & Company Inc. boosted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5,653.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,543 shares of the bank’s stock after purchasing an additional 12,325 shares during the quarter. Barrett & Company Inc.’s holdings in Citizens Financial Group were worth $800,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $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 valued at $775,663,000 after acquiring an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in 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 valued at $586,883,000 after acquiring an additional 8,523,938 shares in the last quarter. Bank of America Corp DE acquired a new position in Citizens Financial Group during the second quarter worth about $223,386,000. Finally, Legal & General Group Plc acquired a new position in Citizens Financial Group during the second quarter worth about $207,234,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $65.19 on Friday. The company has a market cap of $27.46 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72. The business has a fifty day simple moving average of $67.11 and a 200-day simple moving average of $67.20. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating 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 company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the business earned $1.05 EPS. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.52 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is 41.85%.

Analysts Set New Price Targets

Several analysts have recently commented on CFG shares. Barclays increased their price target on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Citizens Financial Group in a research note on Friday, October 16th. Citigroup lowered their target price on Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Truist Financial dropped their price target on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group 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.