Invesco Ltd. Has $1.06 Billion Stock Position in Citizens Financial Group, Inc. $CFG

Invesco Ltd. raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,671,355 shares of the bank’s stock after acquiring an additional 283,321 shares during the quarter. Invesco Ltd. owned 0.05% of Citizens Financial Group worth $1,059,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brookstone Capital Management increased its stake in shares of Citizens Financial Group by 2.9% in the 2nd quarter. Brookstone Capital Management now owns 7,497 shares of the bank’s stock valued at $336,000 after acquiring an additional 214 shares in the last quarter. Lynx Investment Advisory grew its holdings in Citizens Financial Group by 2.8% in the second quarter. Lynx Investment Advisory now owns 8,961 shares of the bank’s stock worth $401,000 after purchasing an additional 243 shares during the period. Wealthspire Advisors LLC increased its stake in Citizens Financial Group by 2.3% in the second quarter. Wealthspire Advisors LLC now owns 11,570 shares of the bank’s stock valued at $518,000 after purchasing an additional 257 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 valued at $472,000 after purchasing an additional 274 shares during the period. Finally, REAP Financial Group LLC boosted its position in shares of Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock worth $33,000 after purchasing an additional 309 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of research analyst reports. Cantor Fitzgerald started coverage on Citizens Financial Group in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 target price for the company. DA Davidson restated a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 16th. Barclays upped their target price on Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Citizens Financial Group in a research report on Monday. Finally, Evercore ISI boosted their price target on shares of Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group has an average rating of “Buy” and an average target price of $56.57.

Citizens Financial Group Stock Up 0.1%

Shares of NYSE:CFG opened at $54.65 on Wednesday. The business’s 50 day moving average is $51.94 and its 200 day moving average is $48.56. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $55.24. The stock has a market cap of $23.47 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.58 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share 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. Investors of record on Wednesday, October 29th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.4%. This is a boost 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 presently 51.54%.

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.