Brookwood Investment Group LLC Takes $2.01 Million Position in Citizens Financial Group, Inc. $CFG

Brookwood Investment Group LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 37,774 shares of the bank’s stock, valued at approximately $2,008,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC lifted its position in shares of Citizens Financial Group by 160.0% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 15,339 shares of the bank’s stock valued at $628,000 after acquiring an additional 9,440 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Citizens Financial Group by 5.8% during the first quarter. Alliancebernstein L.P. now owns 640,631 shares of the bank’s stock worth $26,247,000 after purchasing an additional 35,366 shares during the period. NewEdge Advisors LLC raised its position in shares of Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after purchasing an additional 274 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Citizens Financial Group during the first quarter valued at $3,177,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Citizens Financial Group by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,880,871 shares of the bank’s stock valued at $118,029,000 after purchasing an additional 667,381 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 1.6%

CFG stock opened at $59.35 on Friday. The firm has a market cap of $25.49 billion, a PE ratio of 16.62, a PEG ratio of 0.48 and a beta of 0.74. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $60.10. The company has a fifty day simple moving average of $54.89 and a 200 day simple moving average of $51.27. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio is currently 51.54%.

Analysts Set New Price Targets

Several research analysts have commented on CFG shares. Morgan Stanley upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $53.00 to $71.00 in a report on Monday, September 29th. Cowen reissued a “buy” rating on shares of Citizens Financial Group in a research note on Monday, December 1st. Evercore ISI lifted their target price on Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Raymond James Financial set a $62.00 target price on Citizens Financial Group and gave the company a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.57.

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.