Brown Brothers Harriman & Co. Lowers Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Brown Brothers Harriman & Co. lowered its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,013 shares of the bank’s stock after selling 219 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Citizens Financial Group were worth $411,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Versor Investments LP bought a new position in shares of Citizens Financial Group during the 3rd quarter worth $1,910,000. CWM LLC increased its position in Citizens Financial Group by 77.1% during the 2nd quarter. CWM LLC now owns 40,699 shares of the bank’s stock valued at $1,466,000 after purchasing an additional 17,718 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth approximately $5,009,000. Andra AP fonden boosted its stake in shares of Citizens Financial Group by 49.1% during the second quarter. Andra AP fonden now owns 308,300 shares of the bank’s stock valued at $11,108,000 after purchasing an additional 101,500 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in Citizens Financial Group by 138.9% during the third quarter. Pallas Capital Advisors LLC now owns 25,620 shares of the bank’s stock valued at $1,069,000 after buying an additional 14,896 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $48.17 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $26.13 and a 52 week high of $49.25. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The firm has a market cap of $21.23 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.84 and a beta of 1.07. The business’s 50 day moving average price is $43.29 and its 200 day moving average price is $40.07.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup increased their target price on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.47.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.