Citizens Financial Group, Inc. $CFG Shares Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its Citizens Financial Group stake by 4,764.9% in the third quarter, acquiring 352,557 additional shares for a total holding valued at approximately $23 million. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group reported quarterly EPS of $1.41, exceeding analysts’ $1.39 estimate, while revenue of $2.32 billion fell slightly short of expectations. The company also raised its quarterly dividend to $0.52 per share, implying a 3.2% annualized yield.
• Analysts maintain a generally positive outlook, with CFG receiving a “Moderate Buy” consensus rating and an average price target of $77.47, compared with its reported share price of $65.22.

Brookstone Capital Management increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 4,764.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,956 shares of the bank's stock after acquiring an additional 352,557 shares during the period. Brookstone Capital Management owned about 0.09% of Citizens Financial Group worth $22,951,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CFG. BlackRock Inc. bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth $3,415,046,000. Robeco Institutional Asset Management B.V. raised its position in Citizens Financial Group by 7,979.7% in the third 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. raised its position in Citizens Financial Group by 1,252.4% in the third 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 boosted its stake in Citizens Financial Group by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank's stock valued at $282,927,000 after acquiring an additional 28,602 shares during the last quarter. Finally, Amundi boosted its stake in Citizens Financial Group by 31.2% in the second 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. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $65.22 on Friday. The firm has a market capitalization of $27.47 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.59 and a beta of 0.72. The stock has a fifty day moving average of $67.30 and a 200 day moving average of $67.22. 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 - Get Free Report) last announced its quarterly earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period in the previous year, the business posted $1.05 earnings per share. As a group, research analysts expect that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued 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 of this dividend is Friday, October 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group's payout ratio is currently 37.02%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Citizens Financial Group from $78.00 to $72.50 and set an "overweight" rating for the company in a research report on Friday, October 2nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Jefferies Financial Group upped their price objective on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 16th. DA Davidson set a $82.00 price objective on shares of Citizens Financial Group in a report on Monday. Finally, Morgan Stanley dropped their price target on shares of Citizens Financial Group from $89.00 to $87.00 and set an "overweight" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and an average target price 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.

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