Bank of Montreal Can Has $107.90 Million Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Bank of Montreal Can grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 51.1% during the third quarter, according to the company in its most recent Form 13F filing with the 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’s holdings in Citizens Financial Group were worth $107,897,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in Citizens Financial Group during the 2nd quarter worth about $25,000. Costello Asset Management INC acquired a new position in shares of Citizens Financial Group during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Citizens Financial Group during the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC bought a new stake in shares of Citizens Financial Group during the third quarter valued at approximately $28,000. Finally, Versant Capital Management Inc increased its holdings in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CFG shares. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Citigroup upped their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. DA Davidson lifted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their target price on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.47.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $48.09 on Wednesday. The company has a fifty day moving average price of $43.14 and a 200 day moving average price of $40.02. Citizens Financial Group, Inc. has a 1-year low of $26.13 and a 1-year high of $49.25. The firm 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 company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. The business 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. Research analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal 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 given 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 of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

Citizens Financial Group Company Profile

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.