Citizens Financial Group, Inc. (NYSE:CFG) Position Boosted by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 51.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,644,542 shares of the bank’s stock after purchasing an additional 894,322 shares during the quarter. Bank of Montreal Can owned 0.60% of Citizens Financial Group worth $107,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CFG. Innealta Capital LLC purchased a new position in Citizens Financial Group in the 2nd quarter worth about $25,000. Costello Asset Management INC acquired a new position in Citizens Financial Group during the third quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in Citizens Financial Group in the 3rd quarter worth about $27,000. Catalyst Capital Advisors LLC acquired a new stake in Citizens Financial Group during the 3rd quarter worth about $28,000. Finally, Versant Capital Management Inc grew its stake in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CFG shares. DA Davidson lifted their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their target price on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods raised their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Barclays boosted their target price on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Citigroup boosted their price target on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $45.47.

Citizens Financial Group Stock Down 0.8 %

NYSE CFG opened at $48.09 on Wednesday. Citizens Financial Group, Inc. has a twelve month low of $26.13 and a twelve month high of $49.25. The stock has a market cap of $21.19 billion, a PE ratio of 18.93, a PEG ratio of 1.81 and a beta of 1.07. The firm has a 50-day simple moving average of $43.14 and a 200 day simple moving average of $40.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. Citizens Financial Group’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. On average, research analysts forecast that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

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

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.